REGISTERED COMPANY NUMBER.. 9204269 (England and W01e51 REGISTERED CHARITY NUMBER.. 1163564 REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR SOUTH DOWNS LEISURE GROUP A COMPANY LIMITED BY GUARANTEE SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Pagè Report of the Tru51ees, lncludlng slraleglc report 1-23 Chairs Statement Referenee and admlnlstratlvé dèlalls of the Charllable Companyi Ils Trustees and advlsors Structure, govomance and management 44 Objectives and activities 7-10 Achievement and pgrforman¢e 11.12 Envlronm8nl and sustslnablllty 13-17 Flnancial review 18-20 Plans lorfutur8 perfods 21-22 Trusta8s respon$lbllllles 23 Report ollhe independent auditors 24.26 Consolldated Statement of Flnanclal Acllvltles Ilncorporaling an Income and ExpgndSlure Ac¢ounll 27 Consolidated Balan¢e Sheet 28 Company Balance Sheet 29 Consolidalod Cash Flow Slat8mant 30 Notes to tho Consolldaled Cash Flow Statement 3142 Notes to the Consolldated Flnanclal Slalements 33.53 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARAMTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2 Chair's statement l am delvJhled lo present the finanaal and strategic overviewfor South Downs Leisure fcr the year 2024-2025, a year marfod by ¢onbnued growth, innovation, and deepening irnp8cI across our communities. This year has not been without its challenges, bul ourfocus has remained resolute, lo Improve INeS through heallh, wellbeing, and sustainability. As we expand our reach, refine our Servi￿S. and strengthen our partnerships, w8 r8rnain guided by our commhmenl to inclusbvity, environmental responsibility, and the d8llvery oloutstanding communty leisure servI￿s. Communlly Impact aThd Engagement Our facilitiès welcomed over 1.5 millbn visits this year, an extraordinary 8¢hievemenl that raflecls the value and relevance of our servi￿$ In Ihe IFv8s olour resitknls. Whelherthrough sport, swmming, sodal engag6menl or simply offering a place lo connect, our work continues lo support the wellbeing of thcNJsands. A key hbhlhjhl rernains free 1hree-m￿Ih membership scherro for individuals most in need. MJW In Sts third year, this initiative has supported over 1,200 people, helping improve physirAI and meritsl health, reduce isoL4tion. and support r8inlegralion inlo communty We are also proud ol our role In teaching vitsl lrfe skills. With over 3,000 children enrolled in ourswmming lessons. and more to ¢x)me Idlowing Ihe addition ol Hampton Pool, our prcorommes are building confidancè, safety, and a bve ol the watèr from an eady age. Performance Agalnst Buslnass Plan Targets We are p￿aSed to repjrt strong performance across keyoblectives.. Customer Experlen¢e: The return ol MysleryVi5118 Ihrough Proinsighl in 2025 broughleX￿pI￿nal re5ulls, with several scores exceeding ￿%, well above our 75% largel. Our in-house customer serwce training, delwered to over 50 $18ff, h8S o1$0 elevated our service slandards across the Drgat)isation. Finance: Thesuc¢essful Irksourclng of payroll in May 2025 and tyjr shlft to paperless systems lor paysllps and tim￿heetS reflect our drwe for effioiency and sustsinabilily. We are especlaly pioud to report a 6% surplus on lurnover, deliverlng strong fin8￿171 performance across all contracts. Staff Dgvalopmonl: Staff Irainiry continues lo evolve, Indudlng the launch DI our Carbon Lilewy o)urse and a refreshed corporale induction proyramme, which enhances coll8boralion and whesion acmss all siles and leaffls. Health & Safety., We exceeded our 850% audit tsrgel, achiaving a rernarkab￿ 92% 8verage in Health & Safety 8udits aimss our fac1￿118$ in 2025. IT and Innovallon: WhiEe ourwebsile overhaul has been resChedu￿d lorAulumn 2025, we continue lo lead on digtsl Innoval￿n. Our co118boralionvlllh Abbeycroft Leisure and Leisure Labs lo inlroduce Al intr) our app, promises to improve mernber retenbon and potentially create new revenue opportunities. Sales & Fllié$s.' Kl8mbership numbers hav8 excseded targets, yJrpa5sing 16,(h)O FIT4 membeTS 8nd 1,150 Sea Lanes members, wlh an impressive average yield of £37,24 in our FIT4 membership. Extènding ourjunior mernbershlp category lo Indude 18-24 year- olds as°youro adults. has drwen growth and engagement. Su51aSnobilily.' Our commilmenl lo Peop18. Planet, Profil. continues lo drive tangible oulcom8s. We were ranked 3rd and 5th nalionallylor recydiry old sw¥ntnlng eqUIpn￿nI through Ihe Leisure Loop inilialive. New solar PV instsllations, ballery slora3e al Wadurs. and bike-tO-worf( incentives are helping shifl our carbon trajectory. Wo am pro￿ lo rewrt Ihel Wadurs Swimrning Pool ran on l-zero electricity for several days this sumnkr. Pag811 SOUTH DOWNS LEISURE A COMPAIIY LIMITED BY GUARANTE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Hèalth & Wellbeing.. Our new Health and Wellteing Plan is beginnlng to take shape through partnerships and cross-seclor co118LvJralion. We aim lo align this plan with the NHS 10-Year Strategy, conlributiNJ meaningfully lo preventslive health. Enlerprlso and Faclllty Development Sjulh Downs Leisure Enleiprises Ltd. has $8en a strong year, espeaally In CO￿Orate hospilallty and weddings, Iwth further opportunities under rewew, induding potential future accommodation opt￿nS. Sino opening in June 2023 Se8 Lanes Brighton, has welcomed over 200,000 visitors.11 ha5 been a fantast￿ conlribulor noljusl financially, bul also through supporting national events and ratalysing wider p(K)I development convetsalions. We have aEso tonllnued lo reinvest in our assets, with over £1.5 mllllon spent on capital and maSntenance over the last year8, enhanung gym equ1W￿nl. refurbishiw changirrfJ rooms, and improving the overall experlence for our customers. Future Outlook LookifVJ ahead. we plan lo brang Hampton Pool inlo Ihe South Downs Leisure mod81 and will be mobilisiru Hilsea Lldo n the Aulumn of 2025. We aro still IwkiTVJ al ￿gnifiCant ￿deVe￿ment ol gym, group exerase, and soft play spaces al some olour facli ities. These investments are crucial lo oUr¢(￿lInued growth and to meeling the evolving needs ol our ujmmunity. We are also pr￿reSsIng our Cartjon Nel Zero slralegy, targeting several dry-slde sil&8 lo achieve Ihls nvleslone by 2030. This Mll require substantial inveslmenl bul wll aLso protect us from bng-lerm utility volatility and esta￿lsh Soulh Downs Lei8ur8 as a true sector leader in sustainability. Our ne￿dY launched fwe-year slratsgy pl￿$ Health & Wellbeing al its core. By thusing on wevention and public health partnership5, we aim lo make 8 lasting differenix in the INes ollhose we setve. In ￿1￿cluSion, 2024-2025 has been a year oloulstanding progress for South Downs Lalsure. marked by resth'ence, creatiwly, afhl a deep-rooled commilm8nl lo Communty. I would like lo thank ourdedicated staff, volunteers. partners, and the board ol Iruslees lor eir continued passion and service, We remain ambitious and Optimist￿ about the lulure, confident in our purpose, arid exaled k)r the joumey ahead. Paula Newion Ch8irolTtuslees South Downs Leisure Page12 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also Dreclors ol the Charitable Company for Ihe purpos68 ol the Companies Act 20(￿. presenl Ihelr report wlh Ihe financial stslemenl lor the year ending 31 March 2025. The Trustees have adopted fv piovi&ons of the Slalemenl ol Rewmmended Practi￿ ISORPI applicable lo ch8r11￿$ preparing their accounts in accordan￿ with the Financial Reporfing Slandard applicable in the UK and Republic ol Ireland IFRS1021. REFERENCE & ADMINISTRATIVE DETAILS Name ol charity South Oowns Leisure Namè of svbsldlary South Downs Leisure Enlerpiises Ltd Charity and cofflpany registration South Downs Leisuie 09204269 Soulh Downs Leisure Enterprises Ltd 09261501 Charity numbor 1163564 Registered offlce Fiekj Place Manor House, The Boulevard. WorthirvJ, Wesl Sussex BN13 1NP T0￿phon6￿)d website.. 01903 905050, www.southdDwnsleisuie.co.uk Audllors McCab8 Ford Willi4ms SlaluloryAudilor$ and Charterert Accounlanls Building 1063, Comlorth drive, Kent $￿enCe Park, Sktingboume ME9 8PX Bank Lloyds Banking Group City off￿ PO Box 72, Bailey Drive, GilliThJham BU￿ne$S Park, Gillingham ME8 OL SoliGilors Joanna Bussell Winckworth sheFwo￿1 LLP Minerva House, 5 Monlague Close, Lorvjon SEI 9B8 Nick Tompkin Bennel Griffin LLP 1 Liverpool Gardens, Wothing, Wesl Sussex 8N111TF Chief Executive Olllctr Duncan Anderson Twstees P Newton (Chairl J M8rshall Nice ch￿1) A F￿￿tt¥0 P Greenw(thl.Pe8rsor A Tumei J Finch R Garw H Schan S Redma G Cronln A Lowe K Boram N Beverfey-HeL￿er Appointad 24 August 2020 1 F&ruary 2023 1 Juty2019 22 Oclober 2021 28 April 2022 3 FebNary2023 1 August 2023 1 Auwsl 2023 18 Klar¢h 2024 4 Aprll 2024 30 octs￿er2024 6 January 2025 7 J8nuary 2025 Resigned 26 November2024 5 June 2024 Page13 SOLTfH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRVCTURE, GOVERNANCE AND MANAGEMENT South Downs Leisure is a charitable company limited by guarantee consliluled cfi 4 Seplemter 2014 and governed by articles aTh memorandum olasswalon. Charitable slalus was applied foll￿ry the Incorporalon of the Tnjst and was awarded shorfly aller the Trust commenced trading on 1 May 2015. The trustees are also dlr8dors ol the charity lor Ihe purposes of the clNnpan￿S Act. The charity has a wholly owned trading subFidiary, South Downs Leisure Enterprises Ltd which is used to support the activit￿S ollhe Trust. Recruilmenl and Appointmant of Trustees Unless ollierwise determined by the company, Ihe Board shall consistofal leasl thr06 and nol more than eleven indiirirtuals ¢omprFsed as follows.. Up lo 8 Community Trustees Up to 2 Local Authority Trustees Up lo 1 Employee Trustee Community Trustees will always be 8 tnajorityon the Board. New community Twstees are recruited in accordance wlh the Board's agreement and ¥wlh ourArticlesofAssoa8lk)n. We will always look lo complement and strengthen Ihe skills and 8xpenence ol the Truslee18am on the Board. Community Trustees are appointed for thre& years with memtership being rev￿Wed annually. Recruitment ollhe em￿oyee Truslee was initially by appointment by the senior managemonl teaTn In accordance with the Arbdes of Assouation but from 2016 thls Wds changed to ￿ed￿n by empkjyees as ag￿ed by the Board, The Local Aulhorty confirm8 its nominations and appointments as and ¥A)w) Local Aulhorty vacanaes arise. Tralnlng of Trustees All new Trustees receive an induct￿n from the CEO and meet the Chalr. Duiiro 2025 we conducted a team bullding session with the Iruslees and Exec team. A furlher training 5esslon lor all our Iiuslees on govemance and scwb'ny is planned lor later this year. which will also invdve the Exec tsam. We also held a strategy planning awayday. Organisational Struelure The current Board conslsls of elghl rAmmunityTrustees proiriding a range of eXper￿￿e and professional experlis8. Paula Ne￿On Is Chair and James Marshall Is vice Chali. We have three subgroups which meet Ihrouglwl the yearlo support the Board. Further to reorganL%afjon, subgroups are as follows.. Finance AThlrew Fleetsvood, James Marshal. Nichc4as Beverfey-Hedger, Kemn Boram Pèople and Remunerallon A￿reW Fleetwood, Geiard Cronin, J8nnil8r Fin Governance Paula Newton. Stephen Redman, Rits Gamer, Amanda Turner Enterprise Dlrgctors Paula Newton, Duncan Anderson W8 h81d the fdlowing meetings lor the period ended 31 March 2025.. 5 x Board meetings 4 x Financ4 meeknngs 2 x People and Rernuneralk)n meebngs 2 x Governance meelings 4 x Enterpnse meetirys Page14 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT- continued South Downs Lglsuro Truslogs P8uI8 Newton Ichairl James Marshall (VI￿ Chairl Andrew Fleetwood Amanda Tumer Jennller Flnch ISt8ff Trustee) Stephen Redman Gerard Cronin Rita Gainer Adiienne Lowe Kevin Boram Nithlas Beverfey-Hedg8r To facilitate Ihe effective operation ol the Charily the 8oard has del8galed the responsibility ol adrninisteriTYJ the Charity to a Sen￿r ManagemenlTeam'. Chief Ex8culEve Officer Finan￿ Director Operalions Director Business Deveknpmenl Oireclor Human RescNJrces ExeuAive Rlsk Managem*nl The Trustees have a dutyto identify and Tewew the risks lo which Ihe charityis exposed 8nd ensure appropriate controls are In ￿aCe. A rilk report is part olea¢h Board agenda. The lop risks have been idenllfiad 8S'. Membership no lOnger8b￿ lo grow due lo lack of spac8 Cybercrbmelfraud E*emal budget pressures causlng SDL lo loiecasl a deffrAI LO￿ng the Adur contract Loyng a member ol the Exec team, causin9 disruption or loss ol ￿}fi￿aKe our partners steps have been tsken to reduce or miligate the above risks. The fc41owing initiatives have been impkmenled to redwE rlsk and Improv8 risk Man￿eMent.. A risk report al each Board meeting. A SWOT analysis conducl8d annually lo idenlifyweaknesses and threats. A cllendar of audits which indude Health & Safety, Financ￿1 and Qualty audils. Sales and Generic myslery visits and Nel Promoter Score surveys lo ensure we are delivering the servlce lo expectallon. Affiliation lo ihe Quesl industry accreditat￿Tr Sche￿￿ to maintsin hMJh standards across all sedions of our business.. The current position ol each sile 1$ as b&knw. We have C4mp￿ted 3 Quest Dbrectlonal R8v4ews Ihis year at Lanclng, SDulhwk* and Wadurs. We are wor￿r0 through adon pvitnls raised. Haalth and Saf8ly South Dovms Leisu￿ is committed lo embedding a culture ol proacttve healih and safèty managernenl throughout the organis81￿)n. This is included in all staff and 1.1 meetiThJs, and we h8V8 a d8dicAled Group Health and Safety Manager who woiks proactwely across the siles lo ellsure Ihe best standards are rnalntained. They have wp)nsibility for He8llh and Safety compliall￿ xross the len slles working ¢loselywilh the sile leams. Page15 SOUTH DOWMS LEISURE A COMPANY LIMITED BY GUARA￿EE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT- contlnued The Operations DiRcloT oversees reg￿ar cros5vsite meetings with Ihe Op8r81ions Managers. and we aim lor each slle to have an appointed NEBOSH ITtte National Examin81iokn Board in Occupational Safely and Health) represenlalive in Ihis area supported by IOSH Ilnsts.tul￿n ol (kcupalional Safety and Heallhl Irained duly stsff. We have trained a further 2 members ol staff in NEBOSH & IOSH Ihisyear lo furfh&rdav6lop $kllls acro&8the siles. We atso have external expert ad1q￿ Ihmugh our conlractwilh Right Dirèctions who prowde regular updates on legislation and complianc6 Changes as we11 as providing an annual Health & SefelyAudil of each sile. This year the averago score across the sites was 92%, an increase of 2%. A¢cldent and Incldenl reporting South Downs Leisure retains the services of Right Diredions and the Dats Hub dlgilal plattomi. Righl directions are a reco9nised industry leader in tha Heallh and S8fety field and have prowded excellent support lo Ihe group H&S manager and sile teams. The te managers and sèction head8 are provided with Up-t￿81e Information and notifications olchanges in leg&lalion, togelherwilh the calendar of audits. adwce. and support in resped of lillgalion clairns. The raporting klalform prov¥Jes urmlale dats for managers to reviewand adion. In the pa81 year we have had one RIDDOR reportable a¢cid$nl, Ml accvjents and near misses are re¥￿Wed by the group H&S managerwlh the site leam and also In ops meetings. Any aclions are recorded and chedKed in the siles semce improvement plans. The accident io usage ratio lor April 2024 March 2025 was 0.02%, this is compared lo the nab'onal average o10.110A. Page16 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES Oblectlves and Actlvltles The objectives ol the charitable company are.. To piowde orassisl in the provigionol bolh ouldoorand indoor laalilies in the interest olsocial welfare lor recreation orolher leisure lime occupation ol indDivJu8ls who have need ol such reason by their youlh, age, infirmity or disablily, linanutj h¥dship, or soaal circumstances C￿ lo the publi 811arge with the object ol improving th@￿ w)ditions ol life, a￿lor To promote community partlClP81ion in healthy recreational aclNrties, andlor Toprowde orassisl in Ihe provision ol¢ommunilylacililies lo be available lo all seclionsollhe communily wilhoul dislinclion, irKluding use formeelings, ￿CtUreS, and classes andlorolher lortns ol recreation and ￿lSUre lime r￿Up8110￿ with the object olimproviru the Condit￿Tr ol life forall those vhK> the facilities, andlor To proTTK>lè the education ol the ptsb1￿ through the provision of lacilllies lor th8 provision ol performing arts, andlor such other charllable p￿r￿Se$ as the Tnjstees In their absolute dlscr8b.on may delemlne. Publlc Benefll TheTrusleesconfirm Ihal they have compl￿dWith Ihe dulyin section 17151 of the Chartties Act 201110 have due fegar(I lolhe Charily Commission's general guidan￿ ￿ public benefil. We have relewed lo this guidance when revie￿￿r0 our business ￿3Th and planning new *ivibes lor the future. Ourvision a#d Mlsglon TheTruSteslabl￿hed a Vision. MissKJn Statemon18nd Values (Mjllined ￿loW,withWrvhSion ref*cting the UK Aclive Nat￿n81 agenda. OUR VISION More People, More Aclwe, More Often. MISSION To delNer an Inclusive range ol heaEth and wellbeing inilialiveswhilst provkling a c￿3￿, sale, and happylelsure experience. OUR VALUES Integrity We Mllll be O￿n, honest, and frfendlywhen communicalir¥J wllh Customers and parhers, Irealing everyon6 wlh respecl. Equallty, dI￿rSIty, and Incluslon We aim to ensure Ihal the opportunilies the Trusl provides are accesSi￿e, ar6 available on a non-disuiminalory basis and prowde maximum he31th and wellbeing benefits lor all. Conllnuous Improvement We will strive lo make the experience ol users and irisitors baller by continually revIe￿ing wraclimties and procedures. Partnershlp worklng Wewill devdop and sustain strong and effectW8 partnershipswlh loc4land nalionalorganis8tionsin wrsuilolourwsion.. More Peo￿, More Act￿8, More Often. Innovation W8wiII expbie the inlroduclM of products and Ser￿￿S, driven by technology, induslry research and best praclice. Staffing We will ensure that all cyjr staff are profe￿lOnallY qua11fied an(Jlor appropriately trained lo delwer Ihe SerV￿e requked and respcnd effeclwety and qUIc￿Y lo custoThrenquifies. Page17 SOUTH DOWNS LEISLIRE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES- conlinugd Envlronmontal awarene8S We w￿1 e￿eavOUr to be an enVIr￿mentallY c￿sc￿l￿S oiganisalK)n and will uJntinu8lly review our services to ensure best pr￿tiCe. A Strong Board Sel8clion and recruitmenlollhe Board was planned ¥4ryth a Glearwsiori lo provide a g￿d range olinteresled. art￿￿late and passionale volunteers wth a strong mix ol experien￿, age, and gender. The 8oard h85 developed a deep understanding ol the aims of the Trust and provid& strong. bul tha1￿ngIng, support and gu￿8￿￿. Executive Management Team The Exec ManagemenlTeam is led bylhe Chief Execuliv88nd Indudes. Finan￿ Director, Operalions Director, Business Development Dlrector, Group Facility Managerworthing, Group Facility Manager Adur. Management Ac¢ounlanl the HR Exewlive. Below this we have a Senior Management team. A numb8r of subgroups were held throughout the yearto ensure the d81ivery ol the lxjs1r￿ss plan. Remunerallon policy for key manag8m8nl personrbO1 A remuneral￿)n Committee is in pla￿ for lthure review ol r&rnuneration I￿ key management personnel. HistMca￿Y 811 changes in grade have been passed by the HRIPeople and Governan￿ subgroup which has nowbeen repla￿d bylhe People and Remuner8lk)n subgroup. Cost of liwng inueases are passed by the 808rd. Tralning Our ongoing investment In people was slrenglhened this year by appointing a TrainiivJ Operation5 Business Partner. This post now manage5 the seven new staff training cou￿es￿edeveIOped in wllaboration wrth18n Hitt. They have also Iianslormed ouronL¥)arding process lo supw# new reL¥uits more 8ff8¢lwely. Forfurtherdetails on CAJrcfjmmunltyinilL91ives andoulreach programmes, please rel8r to our 2025Soulh Downs Leisure Social Impact RetM)rl. Workforco Makè Up The total woiklorce al the lime of TUPE was 367 em￿￿oYees. The total workforce nutnber does ffucluale monthly by approx. 25 employees due lo ￿ latlor5', seasonal varialions around busyl8cAL¥Jl holiday periods and taking off the casual employees tho have not worked vAlhin the organlsalion lor the last Ihree months whlch is an Enla￿ Revenue requbremenl. ()Jr 8o8r(S, Exec and SkfjT teams wnsi810116 ma￿$ and 22 females from a good mix of ag8 rang8S. nfialè Femal• 2345 3645 4645 66-70 BOARD (ECLMVETEAM SENIOR MANAGEMENTTEAM TOTAL BOARD & MANAGEMENT 12 16 22 12 Gender Pay Gap Reportlng On 6 April 2017, n6w regulat￿nS into force requiring organlsalK)ns wilh 250 or rrnre 8mployees to publish annual reports ennlaThiing detailed Information regarding th8 Gender Pay Gap (Including bonus p8yI be￿)een men and wom6n a¢ross IheirwoiklorcA. Page18 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 202 OBJECTIVES AND ACTIVITIES- Conllnued Gender Pay Gap . March 2024 MALE Medlan FEMALE Mean Medlan 14.72 Number 323 49 Numb•r Wh(Ae o￿an1$alian Upper Qv3rtlle Up￿[ MiddlÈ Quartlla Lower Midde Quartll8 Lower Quartile 13.44 26.14 14.46 10.81 9.02 0.36 584 177 142 155 110 16.34 26.1124 0.22 25.98 15. 10.48 26.1124 0.78 0.63 0.68 0.48 85 14.7197 0.37 15.16 72 10.42 0.32 10.42 8.93 71.33 0.52 .36 9.56 323 73.87 584 7&30 75.97 Although not ￿rrently a legal requireTnenl, we will begin preparing for polenlial disability and elhnicily pay gap reportiNJ. By March 2026, we aim io review available staff data and improve disdosure rates, with a vw lo voluntsry reporting by 2027. In summarywe are proud lo rerx)rt Ihal Ihere conliiues lo b8 a l•r balance of pay rates b8iwe8n male and fema￿ empkjyees 8¢ross the (￿an￿$3110Th. STAFF PROFILES Au ust 2025 Totsl Number of Employees Total Number of Posts 'Number of employees wlh Impairments or disabilities 'Number of employees ofan èthnic minority Number 659 Percenta 32 4.86% 11.99% 23 emtAoyees declared th8ms61vesas having impairments onth8 2023 StaffSuN8y. The 23 wore from a pool 01140 that ccfflpleled the slaff surveywhich equates to16%. Ethnic Minorities is inclusive of ariyone vtho has disclosed Ihemsdves a5 not being while British. Whilst we encourage stsff lo declare any disabililies and Iheirelhniaty, these are not mandatory discbsures so may not iruty refled the numbers ol employees in these categories. The number ol ￿nployeeS is much higher In A￿Ust 2025 Ihan in August 2024 due lo the new contract lo operate Hampton Pools which com(n8TKed on 2 June 2025. We conlinL* lo use lair recruilmenl practices and énsure open and transparent processes to encourage all interested parbes to apply lor roles. We are proud Ihal we have retsined the Disabilily Confident Employer (Level 218nd have taken part in the Empk>yAbility srheTne to assist disabled rkople inlo the leisure work1(￿e. The ann￿1 Communlly Leisure UK HR Staff SuNey is used lo benchmark slaff salaries. This has been used by Ihe People and Remun8ralion and Finance sub￿MmItteeS to sel Ihe cost ol living increase each year. along with erysuring rO￿S ale being pald al a (*Jmpelilive rate. Continuous Improvement A key lo the success olsoulh Do￿S Leisure is in the desire to improve. reinvest and be 21 the lorefronl of new initiatives. We aclively support CIMSPA mefflbetship Ilhe Chartered Inslilule loilhe Management ol Sport and PhyAcal Aclivityl with Ihe senbrm8n8gemenl team being members. We a￿0 wotk dosely wilh Comnwnily Le￿Vre UK allending regular calls and confe￿nceS. Page19 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES- continued Customer Expèrlence and Safety Our Net Promoter Score INPSI remains strong.. 34Yo in Worthlng and 33% in Adur, well above the national average of 29%. WORTHING ADUR NATIONAL NP5Sru Health & Safety: This remains a lop priority, with an average audil score of 920k across all siles well above our largel 0185%. , Health & Sateh'AI_dit-Scores Splashpoint Worthing Field Place Davi50n Lancing Southwick Wadurs Sea Lanes 85% 91% 87% 88% 91% 93% 92% /0 93° 910 91% 92% 86% 90% 82°A 84% 81% 83% 910/. 930/. 85% 89% 92% Average Score 86% 87% /0 Page | 10 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE OveNlew The 2024-2025 financial year has been another ex￿ptiOnal perfod for South Dovms Leisure, as we rernained sleadla81 in our commilmenl to the liiple bollom Ilne.. People, Planet, Profil. Despite induslry-vAde pressures, we dellv8ied a po8t%ain share suiplus 8xceeding 6%. W8 were proud lo disliibul$ over £450.000 to Adur & Worthing Councils arid more Ihan £130,000 lo Sea Lanes, reinlorong Dur position as a socially responsible and financially 5ustsinable charitable Irusl. People Th's year saw several enh8n￿rnents lo staff welbeing and benefits.. Our pensk)n scheme was revtewed, enabling erryployees to conlribule up lo 10%, wlh SDL matthing ¢onlributioThs. Staff were granted their birthday as an additional day off. We Launched the Vitality Health Scheme lor senK)r managers ar￿ the execulwe team to Promote personal wellbeing. We also deepened our social impact Ihrough conlinued wmmunily engagement.. Partnerships with Ropela¢klo, parkiun, and others helped us support local indiwduals and families throu9h free gym MemL￿18hlp$, swrnming lessons. and Ihe relum olour su¢cesstul Chrislm&"Shop & Drop. Initiat￿¥8. Ourlree memberships lor Care Leavers, Refugees, Homeless individuals, and low.income farnllles fo$lerad a sw)sa of Ir￿lUsion and belonging. The leedbad( has been overwhelmingly PK¥s11ive. highlighting the importance olthese schemes. The Phoenix Club, lor over-50s, continued trj Ihiive, promding COTnpanionship. creative a¢livilies, and events. we￿ en￿Ur3gad members lo embra￿ digital 10018, including our app and online booking system. New offerlngs Included.. A Young Adult Membership lor16-24-year-olds, whith has Iri￿ed in uptake. Gr￿p exeiase dasses 81 Palatine Park, expanding our outreach. Operational management olthe 3G ILNilball pilth al Davison. Succgsslul tender and Iransit￿n of operation5 al Harnpton Pod, slarting June 2025. Disability Days provided joytul and inclusive experiences lor children with disabililies and Ihew families, Whi￿ Filipino Sports Days al Dawson Lersure Centre grew from an ev6ning event lo lull weekend festivals ￿lebrating family-fiiendty sport. Our facllllles a￿0 hosted ¢ommunlty.1gd ovgnts and learnlng opportunllles, Includlng.. Worthlrrfj Cdlega EmF4oyability Days lo propare students lor 1hewolkpla￿. The SID Youth Hangout Club, offering a sale and welcomiw spac8 lor young peopl8. Fre8 publSc CPR and Firsl Aid courses lo increase uJrnmunily iesili6n¢e. Continued support lor Gr8en Dréams Community Fcod & Gfeenspaces Feslivl al Field Hace and now LancAng, promts.ng sustaina￿e OTVJOIW co118boralion with Th8 Durrington Thealrlcal Sociely, hosling populer perfomances al Fle￿ Aace. Planet Our carbon Iwlprinl, spetificalty Scope 2 emissions, reTnain8d stable durirvJ the reporting year. Hthvever, we have la￿ ￿gnIfICant groundwork ihrough several capital pro1￿[S aimed al reducing emis￿On5 in 2025-26 3nd beyond. Sustalnablllty achlevements Include: Inv8slment in e[￿rgy-er￿enl inlraslwdure such as Ground Source Heal P￿nPS al Splashpoinl paid for by h￿rgan Sindall alld Worthing Borough Council New Solai PV 31 Wadurs and Splashpoinl paid for bya SpKYt England granl Battery Storage al Wadurs Pagel 11 SOUTH DOWNS LEISURE A COMPAMY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE- conllnued New effiaenl pumps al Wadurs Expansion ol cyde storage al four laciliues continu￿ progress on papedess operab'ons. including payroll and lime8he8ls We remain committed to aligning our Health & WellbeiNJ Slr8tegywlh the NHS 1￿Year Plan, ensuriNJ ourpractices are fulure.facing and cfjmmunity-minded. Profit and Operallonal Development 2024.25 has been another ex¢eplional year lor South Dc>vms Leisure managing our fin8nces. Our profil margin after Gain Shares have been givan oulwas 6%. We also gave a gain share ol over £450,0(￿ lo Adur and Worthing Councils and over£130,000 to S68 Lanes. Despits chalewes such as increas&1 Nalic>nal Living Wage aThJ National Insuran￿ conliibulions-raisng our wage bill by approx. 140A in April 202￿e kept average wc8 ￿CreaSeS to just meM￿[ship now exceeds 16,500. vAlh sustsined growth across all reas. Key capltsl Investments and Improvements Ineludad.. Les Mills Virtual Studios al Splashpolnl and Soulhwd(. Relurbish8d toilets and changing laalilies across our estste. A new outdoor sauna cabin al splashp(￿nI, revll81ising the former paddllng pool area. N&w lockers and cubicles al Spl8shpoinl. Ongoing reinveslmenl lolalling over E1.5 millon in the Lgsl kn years. Wè also suc￿SsfUllY insourced our payroll lun¢llon In May 2024, a move that not onty ￿oSted effic4ency bul corilributed to our 6nwronmental goals. To further streamline internal communications, we are preparing lo introduc8 an Al Chal BDI lo handle standard HR quedes, an innovation expected lo regofve 8riyJThJ 80Ya ollhe 6,000-8,fKJO annual staff ernails, freelng up time for our Lxjrienl staff io piovlde qUal￿ty and further strategy. Our subsidiary, Soulh Do%ths Leisure Enterprises Lid. saw (tynlinued success in corporate hospitality, Notsbly, we secured a key oking with the Driver and Vehide Standards Agency IDVSAI. PLgns are also underway to transform the rear garden al Fidd Pla into 8 dadicated we(kJing Spa￿ wih small lodges for guest ettommodalon. Sea Lanes, Ihe National Open W8ler SyrimM￿g Cenlr8 in SrvJhlon, conllnu8s lo thrive with over 2W,000 vislors since ils op8nin9 Kl June 2023. The laality is not only financialty swcessful bul a150 provides a venue for inclusive charity events and sale cokl-waler swimming. Pagel 12 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ENVIRONMENT AND SUSTAINABILITY This continues lo be ol hiJh Importan￿ since becorning a key focus ol the business in 2021. We inllodu￿￿ a separate Sustainability Development Strategy lor 2022- 2026 and are working on a new slralegy lor 2027-203110 continue our push Iow8rds nel zero. We h8veworked hard lo make this partollhe culture at SDL, by invesling in Ir8ining staff, communi12lions to slafflcuslomers and working th partners. We have ensured that sus18inabilily is considered as parl olall d8cisions th81 are mad6 8181118vels. Work conlinuBs lo understand ourenergy usage and drive thls down. Deslialificalion lans are now in use al Spla5hpoinllo ensure that waim ali is ciiculaled lo the areas where il is most needed. We have worked with Worthing Borough Council and Sports England lo secure granis lo incfease the sdar panels al Splashpoinl and lo Introdu￿ Ihem al Wadurs. The ground source heal pump al s￿aSh[M)in1 hasfinally been reinstslled and recommissioned in June 2025. The effeclolsorne ollhese rlleasures will ontybe apparent at the end ollhe next financial year. Stsff le8fllS have really tsken Ihis CM) across the siles with environfflenlal ¢h8mpions leading the Way 8nd Cont￿U011Y coming up wilh new ideas. Comparing gas 8nd el8drKity usage belween 2023 and 2025 shows the ¢anlinuing affecllhe Neasures are hawng,. Worthing Gas 2023 to 2025 (kwh) soo,000 450,000 400,(XJO 350,000 300,000 250.000 200.000 150,000 loo,000 50,000 2023 m 2024 * 2025 WorthinE Electric 2023 to 2025 Ikwhl 250,OLNJ 200,0(h) 150.000 loo,000 50,000 2023 * 2024 4 2025 Page | 13 SOUTH DOWMS LEISURE ACOMPANY LIMITED BYGUARAk￿EE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ENVIRONMENT AND SUSTAINABILITY. continued Gas is much harder lo reduce as this controls the heeting and hol water. The WortlN'ng heal neiwork wll start supplying he81 in Worthing from M8rch 2026 and S ￿3shp￿nI have signed up lo this inilialive. A granl has been secured Imm ScAJlhern Water lo inlioduce a waler retention scheme al Srl8shpoinl, and this is due lo be instslled during the autumn 012025. Adur Gas 2023 to 2025 {kWhl 140,000 120,000 ioo,ooo 80,000 60,0 40,000 20,000 2023 M 2024 Tr 2025 Adur Electric 2023 to 2025 {kWhl 45,OLKI 4CI,O 35,000 30,000 £ 25,000 20,000 15,000 10,000 s,000 •2023 M 2024 IJ 2025 The usage in Soulhwck is largely thwn due lo the heallh suite being out ol action for certain periods. The centres are all experiencing higher usage which is renected in increased wnning costs. In addition, wa are lodunled to £3,261,88512024.. £2,568.3121, induding restricted funds 01£59012024.' £4,762) and unreslricjed kjnds of £3,26129512023.. £2,563,550). In the event that the Trust meets the agreed Risk Reserve largel of £891,000 and after £I00,(WJO has teen transferred into the Improvement Reserveforlhe Worthing contract, 50%olanysu¥pluses lorthe Adur¢ontract have been transferred inlo an Improvement Reserve, and the Palatine Park suwlus has been transferred into a loolb811 in the community fund, and Ihe Risk Reserve tsrgel has been maintained lor a c4)ntinuous period of 3 months, Ihen 50% 01 any additional surplus general￿ by the Twst In any Service Year shall be shared vAlh Worthing Borough Counal. The Group had lotal reserves al the balance sh881 dale of £3,261.88512024.' £2,568,3121. £891,00012024'. £891,oth)I has b88n designated as Ihe risk reserve in accordance wtti Ihe rese￿e$ policy and £1,398,92512024'. £1.034,9441 has be8n de8unaled as the improvement reserwe lor Worthing, plus £389,35512024 £174.5341 lor Adur. Pa131ine Park deficit £4,41012024.' Deficit £4,59918nd Sea Lanes risk reseNe £130,00012024,. £125,000), in accordan￿ wilh the reseNes policy, arid £224,87112024'. £76,566) designated as the business improvement reselve lor Sea Lanes. Reslricled lunds 81 the yeareThd were £59012024.. £4,762). The Worthing improv8menl reseNe balance or £1,398,92512024.. £1,034,9441 is made up of the nel book value of fix&4 asset purchases Incorporallon of£297,64412024'. £288,2051 aT%I there were £1,101,281 In unspent Teserves12024.' 746,7391. The Adur improvement reserve balance 01£389,35512024.' £174,534) is made up of the nel book value of fixed asset purchases slnc Tr)¢orporalion of £83.39912024'. £}69,(￿8) and there were £305,956 in unspent r05etves12024'. £5.4661. The Sea Lanes improvement reseFve balance of £224,87112024', £76,566) is made up ollhe nel bookvalue ol fixed as5el purchases Sin￿ incorporalkin 01£4,18912024.' £8,0461 and there were £220,682 in unsp8nl reseNes12024'. £68,520). Going concem As Mlh any Charity Ihal has been 6Stabllshed forlhe lasllen years having wealhered the instabilty of gas and eleclriclty supplles and the exlortionale pri￿ caused by the war in Ukraine, the Pandemic and Ihe cost ol living cOn￿M8 from high infial￿n, we are well versed wlh challenges, bul are nol wMpla￿nI lo Ihe magnilude these Tnay have and Ihe Importan￿ lo ensure we apptylhe right due diligence caution with all decisions and new venlures. What we have worked towards over the p8s1 fwe ye8r8 has meant that we would be in a signfficanffiy stronger posit￿n Ihan where we ¢8me from. AddilKsnal solarpanels have b88n fitted to Splashpoinl and Wadurs swimming pools. We hav8 been swces8ful in a IrcKn Southern Walerto Implemenl a new water sawng 5chetne which wll ultimately reduce costs. We have now recommissioned the Ground Source Heat Pumps al Spla5hpoinl, and we are currenlly invesb'gating n8w Solar PV al Worthing LC and Field Place. The industry is still seeing an iricrease in membership sIr￿e the pandemic and South Downs Loisure is no exceplKsn. The membership nlinues lo grow making our facilities very busy. Plans are being inveslig31ed lo increase ourcapacity and improve ouroffering. We now have a lean, agile workforce whlch Is leh will be one ol tt)e best ways lo cope with the challenges we have experlanced and to give vs flexibility moving loNards. Wewill be boking al a new slru¢lure that w￿1 increase slaff costs bul will allow us lo grow in the futur8. We are also inveslig8ling new lechnolo9ies, notably wlh Al that allows our (yjrrenl staff more CApa¢ity to grow. Costs are monitored and ojntrolled ch%ely and all schemes avaIla￿e are utilised trj mininise OUr￿5t8. Page | 20 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORTOFTHE TR STEES FOR THE YEAR ENDED 31 MARCH 2025 Going concern. conlinued We have pul together a 10-year assel replacement pLgn whkh indudes Signif￿an1 re-inv8slmenl into all our faali1￿$, lo N>1 just maintain them bul improve them. By hvesling In our ￿ople, rTrmises arml producls we believe that we are able to provide an ex￿lIent servrR thilgl kèeping Ihis accessible lo lh8 community we serve. TFEre are numerous schem&s to pmide a¢eégs lo harder lo reach groups aThJ remaining olilable ena￿eS our o)nts'nued efforts in Ihis area. The Board ol Tiuslees has considered the current economic cllmale and a18 salisfied that, assuming cuslomers behamour is in line with industry expeclalions, Ihal it will be able lo meel all ils obligalions as and when Ih8y lall due. Accordingly, they consider il appropriate to continue io prepare the financial stalemenls on a goiTVJ ccin￿rn ba￿5, forthè futur8 ScyJth Downs Leisure's ￿rforManCe in the IinaTiclal year 2024-2025 has been exceptional, highlighted by remarkable memborship & ftnancral growth, oui ¢aloon footprint has remained steady this year as we dr8w pLgns lor large capiial that will see a slep change in 2025-26. These achieveTnenls r8fle¢l our commitment lo providing lop-quality services, supporting suslainabilrty, supporting our community and being a 50cially responsible organisati￿. We remain ¢ommilled lo our missi¢Jn ol providing inclus4ve health and W611belrvJ inilialNes while maintaining 8 clean, Sale, and happy leisure experrnce. A major investment n W(Kthing Leisure Centre is ￿anned, aimed 81 expanding group exercise and gyTh space thile rede￿gnIng our soft pL9y areasto beller meet user needs. r eapltsl programme targ8ts carbon nel zero al the majority of our dry la¢ilitiès by 2030. Achieving Ihls wll r8quire substantlal inveslmenl bul wll swre kong.lerm utility pro18CtK)n and POEition Soulh Downs Leisure 8s a leader in sustainabillty. Our dedicati(￿ to the bottom line ol Peo￿e, Planet. Profil guides our actions, ensuring a positive impact on our comrnunity and environment. We look forward lo o)nlinued Suc￿sS and progress in th6 years to comg. ACCOUNTABLE AND TRANSPARENT The work ol the Trust sils largely in the public domain and through its v8lues, ¢KJb and customer lo¢￿ groups, surveys & le8dback mechanisms il strives lo engage with 811 interested partrs. The buwn88s plan and objectives ar8 publlshed 8nd subject lo public scrutiny. As part ollhe service agreements wlh Worthing Borough and Adur Disln'd thJrKil, the Trust provides regular reports lo the Council on ilsperfoimance through monitoring Key Performance Indicators IKPlsl. FUNDRAISING As a charity our Incomo is derived from thaAt8b18 Ir8dSng and as such. w6 do ml und8rtak8 any specific campaigns which require donations. DISABLED PERSONS The parent Charitable Company and its subsidiary undertakings, policy is lo give full and lair consideration lo applic81ions lor employmenl by disabled petsons, having regard for their particular apliludes and abilities. Disabled employees receive appropr￿le training lo promote their career within Ihe organisalion. ETnployee8 who become disabled ale iel8ined in Iheir exisling posts where possible oi retrained for suitable altemalive tK)sls. Soulh Oowns Leisure is a Di$8bility ConfvJenl ernpl￿r and Complet￿ the Employabilityscheme duiing 2022-2023. ENGAGEMENT WITH EMPLOYEES A regular staff newsletter. a staff Facebook page, an annu81 staff awards paty arkl enwfonmenl team trAJildiThJ days are just som8 of the ways Ihal South Oowns Leisuie engage with staff.11 1$ recognised that differenl avenues are requiwl lo engage with dSfferenl group5 01 staff, and we continue lo look at new avellues lor communkalion. A number of podcasls have been uoated to discuss ditterenl suty'ecls vthich have included menopause, c0510l Iwing, neuiodiv8rgen¢e etc. The Wellbeing Champ￿n$ (yevious￿ known a5 Workpl8c£ Champions) introduced in 2021 are volunteers who have bean given training lo suFyort stsff, piovKJe 3 means ol signposting staff to ￿dit￿nal support and coordinabng wilh management as necessary. Page | 21 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARA ￿EE REPORT OF THE TRUSTEES FOR THE YEAR E￿DED 31 MARCH 2025 WorthirvJ Counselling Cenlre was employed 8s the EAP provider during 2019120. This is a local charitable seFvice which h88 already proved more popukr than the previous, more g8neric, service. We are helphg cur staff and another local charity wh￿h fits perfectly ilh our ethos. Our board ol Trustees also includes a Staff Trustee to rey8senllhe staff. Pa￿122 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 M RCH 2025 STATEMENTOF TRUSTEES RESP014SIBIL ￿lEs The Iruslees Ivtho are also the directors ol South Downs Leisure for purtKJse5 of company lawl are responsible lor preparing the Report ol the Tiuslees and the financial slalemenls in accordance with applicable law and Unikd KingdoTn Accwnting Slandards Iuniled Kingdcth G6neralty Awepled A¢counling PraCt￿e). Company law requires the trustees lo prepare financial statements loi each finanual year which givo a true and fair view of the stale of affairs ollhe charitable company and of the Incomlng re8￿jr¢es appI￿atiOn olres(yJrces, induding the In(y)me expenditure, ollhe Charitab￿ Company for that peri￿. In prepaling those financLg1 stslements, the Iruslees are reouireil lo seleclsuitable awounting pdiaes and then apply them ¢onsistenlly', observe the methods and princi￿e5 in the Charity SORP 2019 IFRS 1021,. M3￿ judgements and est￿mateS Ihal are reasonable 8nd prudènt; stale whether applicable UK A¢¢ounling Standards have been foll￿Ad, subject to any material departures di%dosed and explahed in the fin8nci81 stslemenls Prepare the financial statements on the going (oncem basis unless il is inappropriate lo presum8 that Ihe charitsble company will continue in operalDn. The trustees are responsible lor kee￿.ng proper accounling records which disclose wlh ￿aSOna￿e accuracy al any lirne the financial Po￿li0n ol the charit8ble company and to enab￿ them lo ensure that the financial stslements com￿Y wilh the Con1)an￿S Act 2006. They are ako responsible for safeguarding the a*els ol Ihe ¢h8ritable company and he￿￿ IOT taknng re8sonaNe steps lor Ihe prev8nti￿ and deleclion ol fraud and Olher irregulaiilies. In so lar as ihe Iruslees are aware.. Ihere is no relevant audil inform81ion olwhith Ihe Charitab￿ compan¥s au(Sitors are unaw8re'. and the trustees have taken all the steps Ihal they￿h1 lo h8ve18ken lo moke Ihemsefves aware of any r81evanlaudil inlorm8lion and lo establish ihat Ihe auditors are aware ol Ihal informalion. ON BEHALF OF THE BOARD,. P Neth-chair Dale'.*September 2025 Page | 23 REPORT OF THE INDEPENDENT AUDITORS TO THE LIEMBERS OF SOUTH DOWNS LEISURE Opinion We have audiled the finandal sla18ments ol South Downs Leisur6 Ilhe 'parenl charitable cornpany'l and Its subsldiary Ith8 'group'l lorthe yearended 31 March 2025which comprise Ihe Consolidated SlalernenlolFinancial Aclivilies, the Consolidated Balance Sh8el, Ihe Company Balan￿ Sheet, Ihe Consolklaled Cash Flow Statement and nDtes to tha financial stalernents. including a summary 01 significant ￿auntIng policies. The financial reporting Iramewoth Ihalhas been applied in Iheirpreparalion is applicable lawand United Kingdom Accounts'w Standards including Financial Repwjrting Standard 102 'The Financi81 Reporting Standard applie2ble in the UK and Republic ol Ireland, Iunited Kingjom Generally Accepted Accounting Practi￿1. In our(4)inion the fin8nu81 $18tements'. gwe a Iwe and lair ￿eW of Ihe stale of the group's and ol the parent charitable companls affairs as al 31 March 2025 and ol ils SncA)mlng resoure4s and applicalion ol resources, indudlng Its incorne and expenditure, for the year then ended,. have been propedy prepared in 8¢¢ordanee Iwlh Unlled Kingdorn Generally Accepted AcLX)untirvJ Practice,. and have been prepared in actordanc4 wth the requirements ollhe Companies Act 2006. Basis lor opinion W8 conducted our audit in accordan￿ with Inlemalional Stardards on Auditing IUKI IISAS IUKII and appI￿able law. Our responsibllilies under Ihose standards are lurther described In the Auditors responsibilities lor the audit of the financial statements sect￿￿ ol our report. We are independent of the Charitable compariy in accordance with the 8th1￿1 requlreTllenls that are relevant ID our audit of the financial slalements in UK, including the FRC'S Ethical star￿ard, and we have fulfilled our olher ethul responsibilities in accordance with Ihese requirements. We bdieve that the audit ewderKe we have obtained is suffi￿￿1 and appropriate to provkle a basi8 for our Op￿lon. Conclusions relallng lo golng concem In auditing the financial slalements, we have c￿cluded Ih81 the Trustees. use of ts going concern basis ol accounting in ihe preparation ol the finanaal slalements is appropriate. Based on the woth we have performed, we have not idenlfied any material un¢6rtainlies relating to events or conditions that, indiw(Iu8llyor wlleclively. may cast signfficanldoubl on the charitable companvs ability to conlinue as a goirvJ can￿M lor a ￿rt(KI ol al lea51 Iwelve months from when the financral slalemenls are author￿ed lor issue. Our responsibilities and Ihe ￿$￿nSIbIlit￿S of the Trustees with respect lo going con￿r￿ are described in Ihe relevgnl sections ollhis report. Other Information The Iruslees are responsible for th8 olh8r inlorrnalion. The other information C4)mprise8 the Information included in the group annual repc￿, other Ihan the finanaal slatemenls and our Report olthe Independ8nt Audiiors Ihereon. Ouropinion on Ihe finanaal statements does Thil coverlhe other information and we do not express any form of a55urance condushjn thereon. eanne¢tion with wr audit of the financia slalemenls, our responsibility is lo ￿ad the other inlormelion and, in doing so. consKler whelherlhe olherinformalion is materiallyin￿nsIStÈn1wl1h the financial statements orourknowledgeobtained in Iheaudilor oth6n￿lSe appears lo be materially rnisslaled.11 we identify swh material inconsistenues or apparent material misslalements, we afft required to determine whether there 18 a waterK91 misslalemenl in the financial slalements or a material misslaiemenl ol the other information. If, based on the WO￿ we have performed, we ￿nd￿de Ihal there is a malerial misststemenlof this otherinlomiallon, we are required to rewrt Ihal fact. We have nolhlNJ lo report in Ihis regard. Opinion on other matters pré$¢rlbèd by the Companles Act 2006 In our opinion, based on Ihe work undertaken in the course of the audit- the inlormah'on givan in the Rewrt of Ihe Trustees lor the finanual y88r for whlch Ihe financral stalemonls are prepared Is consislenl with the financial stalernenls.. and the Strategic Report and The Dire¢lors' Rep(Kt included wth the Rewjrt of the Trustees has been prepared in accordance with applicable legal requirements. Page | 24 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUTH DOWNS LEISURE Matters on whlch wg are requlred lo report by excepllon In Ilghlollhe knovA8dge and underslanding ollhe group and parent Charitable Companyand t￿lTen￿lTO￿Menl oblained in tho wutse of audit, we have nol idenlified material misstalemenls in the Slralegic Report 01 the Oireclors. Reported included with the Report of Trusiees. We have nolhing lo report in respect of ffte foll¢Jwing matters where CrAnpanies Act 2￿6 requlres us lo report io you if, in our opinion.. adequ8tea(xwn*'ng records have not been kepl by Ihe parenl chari18bl8company and ils subsidtary, or retums adequate lor our3￿￿1 hav8 not beBn received from bmnches not visiled by us., or the group and parent charilable ¢ompany financial slatemenls are not in 8gre8menlwilh the accounting recwts and relums.. or certain disclosures ol Iruslees. remuneration speoyfied by law ale not made,. or we have not received a51 Ihe information and explanalK)ns we require lor our 8udil. Responslbililies of trustees As eX￿alned more lullyinthe Statement olTnJstees Responsibilities. the Iruslees Iwhoare also Ihedireclorsollhe charitable Cofnpany lor the purposes of company lawl are responsible for the preparat￿n of the financi818Lqlemenls arKI lor being satisfied that they give a IIv8 and fair wew, and I(￿ such in161nal conlrol as Ihe trustees delemin8 is necessary to enable the preparalion ol financial slaiemenls Ihal are free Iiotn rnalerial M￿s￿lement, whelher due lo fraud or error. In preparing the financial stalemenis, the trustees are responSi￿e fora55essing the group's and the parenl charilable companls ability to continue 85 8 going rA)ntsrn, disclosing, as applicab￿, malters related lo golng c(rtem and using Ihe going con￿rn basis ol accounting unless the Iru$lees ellher intend to liquidaie the Charitab￿ company or Iocease operaliws, or have no re81isli¢ allemalNe bul kn d) so. Our responslbllllles forlhg audlt of the Ilnancial slalemenls Our objedives ar8 lo obtsin reasonaNe assurance about whether Ihe finanri81 ststements as a wFde a￿ free from material misstalemenl, whelherdue lo fiaud orerror, and lo issue 3 Re￿rt ol the IndepeTrlenl Auditors th81 include5 our (pinion. Reasonable assuraTh￿ is a high level ol assurance, bul b not a guarantee that en audit conducted in accordan￿ with ISAS IUKI will a￿ayS delecl a material misstalemenl when il exists. Misslalemenls c4n èlise from fraud or e￿01 and are consmlered TTTralerial il, indiwdually oi in the aggwgate, lh0y￿￿Id reasonably be expected to in1luen￿ the econoTlliC decis￿nS ol users taken on the basis of these financrdl stalemenls. Irregularities, incmjding fraud. are Instances of non-¢ompll8n¢e with18ws and regulallons. We deslgn prorÈduffts In Ilne with our responsibilit￿$, outlined above. lo detect malerlal misstalemen15 in respect of iiregulaiilies, including fraud. Th8 8￿ent lo which our pr￿edureS ar6 (apable oldelectin9 irregularities, includiTVJ fraud is detailed ￿low.. Our approach to identifying 8ss¢ssing the risks ol material missiatemenl in respect ol irregularities, induding fraud and non. compli3￿e wilh kaws and regulations, was as follows.. the eNJagemenl partner ensured that the engagement te8m edleclively had the appmpriale competence, capabillles 8nd skills to identify or recogn1se nonme represents nel sales ol goods and services and man8gémÈnl lees excluding value added lax, to CU8tomers during the year. Certain ino)me15 received In advance ol the prowsion ol the relevant service and as 8u¢h Is deferred until the service c(wnmences. SoTne services are provided in adv8Th￿ ol an Invoi being raised and as such isaccmed until Ihe invoice has beenraised and Ihe inwrne recognised in the incorne andexpendilure account. Irbcome lor annual memberships ps accounted forover the membership year. Grants re¢elvablo Grants TrcEkva￿e in respect ol a speufied peri(NY relaling lo the geneml activities ol Ihe charitable company are reo)gnised in Ihe Slalemenlol Financial Aclivili85 in Ihe period in thich Ihey become receivable. Where related expenditure has not be8n incurred the grant is deferred Onlywhen the donor has imposed reslriclions on the expenditure ol resourc*s whi¢h aTnounl pre-conditions lor use. Govemmettt grants Government gran15 are recognised Lthen il is reasonabty certain that the condilions attached the grant are mel. The grant is recognised on an accruals basis overlha period ne￿SSary to match witt) Ihe cJ)sts that they are associated Unreslrtcled Funds Unreslricled fvnds are incoming resources le￿Nable ￿generafrd for the (Ajleds of the charitable companywltt)oul further specified purpose and are avaiL9ble as general funds. Reslrfcled Funds Reslricled funds are to be used for spe¢mc puiwses as laid down by the donor. Expenditure which meets these trileria is tharged lo ihe funds. Expenditure r8cognlllon Liabililies are recognised 8$ 8xpendlbJre as srKJn as there is alogal or conslruclive obligation CA)mmilling the charity lo Ihal expenditure, it is probable that a transfer ol economi¢ ￿nefitS vlll be required in semlemenl and Ihe amounl ol the obligalKJn ran be measured reli8bly. Expenditure is aco)unled lor on an accruals basis and has been d8ssifled under headings that aggr8ga16 all cosl related lo the (alegory. Where costs eannol b8 directly attribu18d lo particular headings Ihey have b8en allocated lo adivilies on a basis consislenl the use ol ffjsour￿. Resources expended i￿lUde attribulable VAT which cannot be recovered. Support costs Suppoil costs are thos8 Ihal assi8t Ihe worf< of tt18 charfty bul do not dIr￿llY represenl ¢haritsbl8 8CtMties and indLkle Off￿2 o)sts, governall￿ costs, administrative, and payroll costs. They ar8 incurred dire¢lly in support olexpendflure on N)e objects ol th6 ¢harity. Where support costs cannot be direclly allribul& lo parbcular h6adings they have been alocated lo cost ol ralslng fuThJs and expenditure on charitgble actiwlies on a ba&s consislenl ￿th use ol the resryJrces. Page | 34 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINAN IAL TATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 ACCOUMTIMG POLICIES- continued Development costs Developmenlexpendilure is Copilalised when all ollhe follo￿￿ criteria are Tnel.. The project is C￿arfy defined and cos15 are separately klenlifiab18 and Can be reli8bty measured,. The project is lechnicaltyleasible 8nd eommer¢ialy viable., The company intends lo complete the projed and ellher use 01 sdl t1￿ resuhirvJ asset.. and 11 is probab￿ Ih81 lulure economlc benefits will aris8. C8pllalised development expenditure is staled al c051 ￿s5 a¢¢umulaled amortisalion and iTnpaiNnenl I0￿e$. Amortisation is charged io the profrt and loss account on a slraighl-line basis over the eslimaled useful life ollhe asset typically belween years. Where the useful life cannot be reliability delerrnined, developmenl costs are amortised over 10 years. lfvhere the ciiterLq for capllalisallon are not mel, developmenl expenditure Is rewgnised as an oxpense in Ihe period in whlch Tangible ffixed assots Fixed assets costiw in exces5 01 £5,000 are shovm in the finanaal slalements 81 cosl including irrecoverable VAT in respect ol these assets. Depreciatbn is provided al the foll0v￿ng annual rales in order lowrile off each asset over its eslKnated useful Fixtures aThJ fiwngs Fitness equipment Computer equipment Fixed assels- Adur sites Enterprise garden Sea lanes assets straight line over 5 years straight line over5 years straighl line over 5 years slraighl line over4 years. until March 2026 Slraighl1Sne Jv6r the life ol the Worthing contract. 23 years Slrai9hl1Sne over 3 y88rs Inlanglbll flxed assèts Intangible assets costing in excess ol £S.000 are shown in Ihe fin8nual statements al cost, exduding irrecov8raNe VAT. Amorbsalion is provided al the lolbwing annual rates in ord8rto wrile off each asso1 over ils 8Stimaled useful life. Computer Sofiware Development￿St$ straight line over 5 years straight line over 3.5 years Page | 35 SOUTH DOWNS LEISURE ACOMPANY LIMITED BYGUARANTEE NOTES TO THE CONSOLIDATEO FINAN IAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- continued Irr•¢overable VAT Given the nature ol the Charitable Company's actiwlies il attracts exempl supplies, vthich results in the Charitable Company falling under the partial exemption Scheme. Input VAT is fully r8covÉred on taxable Suppl￿S, t￿￿ther wilh 8 proportion ol noll-allribulable input VAT. Irrecoverable VAT is wrillen off lo Statement of Financial Ad1vil￿$. Invoslmgnls In $ub51dlarfes Investrnents in subsidlary undertakings are recOgn￿ed al cost. S￿ce Concession Arrangement8 The charitable company has a Service Contract wlh Worfhing Borough Council lor the operation ol leisu￿ centre5 owned by the Counal to wh￿h it has le8se an(i Tnanagemenl servlce conlr8cls, WorthirvJ Dorough Counal has rights underlhe Cc￿traCts lo specify the act￿lIeS offered by the ¢enlres and has influence over lh8 prices charged for them aThJ specifies minimum slandards lorthe serwces lo be prowded. Property, plant 8ndequipmenl The buildings and plant at the ￿ntro$ are18ase(S to the charilable cMpany as part ollhe overall conlraclval rdalionship with Worthing Borough ￿u￿oI bul the Council maintains ultimate control ollhe5e assets. Accordingly the access whlch Ihe charitable company has in the use ol these assets is lo enable il lo operate the leisijre cenlres, $0 that the chadtsble company can provide Ihe public seNce it is contracted lo provide, not to effeclively own Ihese public ser￿￿ assets. These assets are the￿fore nol recognis&l on the charitsNe eornpany's Balan￿ Sheet. Stocks Stocks are valued al the lower ol cost and estifflaled sellirrfJ price I￿$ o)st8 lo sell, on a fir81 in first out basis, after makH)g due allowance lor obsolete and slow ffloving items. Debtors recelvablè and credllor8 payable %￿lhI￿ one year Debtors and creditors ￿rith no staled Inte￿$1 rale and rettivable or payable within one yeararo recorded al Irdnsaction pllce. Any losses arlslng from impairment are recognised In expendllure. Debtors recelvable and creditors payable overone year Deb1015 and creditors are stat￿1 al value due as an appropriale interestldiscount rale is effedivety applied. HITO purchaso and lea$lng ¢omTnitmenls Renlals paid underoperating lease5 are charg&Y to the Stalemenl ol Finanua Acl1vil￿S as infAJrred. Allo¢allon and apportlothment of costs Chaiilable 8¢llvllles are those costs incurred diredy in the running ol each ol the rÉ¢reallon and leisure siles and in Performance ollhe health adivi118s. Charltab18 adivilies are splft into recreallon, Idsure slle and health adivilie5 costs. whlch ere Ihose costs Inc￿[red directly in the wnning ol each ol Ihe sile$ and hea￿h aclwilies, and support costs which are those costs In￿rred dire¢Uy in supwrt of expenditure on fv objects ol Ihe Char￿tab￿ C￿panY. Redundancy costs Redundancy costs lo be recognrsed Nl the SOFAwhen deci$lL￿ has been fijl1yc0mmun￿aled to the relevant empbyees. Page | 36 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- ¢onllnued Flnanclal Instruments The charitable company and subs¥Jiary enler into basic financial instrument5 th81 resull in the recognition ol finanaal assets and li8blilies like Iiade other accounts receivable and payable, loans from banks and other third parties 8nd108ns to rdated partiés. a} Trade and other d8blor8 Trade ar￿ olherdeblors are initially rgcognised alfaiivalue and Ihereaft8rslaled al amortised coslusing Ihe effectNe interest mell¥Jd, less impaimenl losses lor bad and doubllul debts excepl there the effect ol discounting would be immaterial. In such cases, the recelvables are stsled al c£)sl less impairmenl losses lor bad 8nd doubfful debts. bl Cash and cash equivalents Cash and Gash equivalents CA)mprise cash at bank and in hand. cl Inveslm8nls InVeSt￿nIS wilh short.lerm deposits that have an origin81 maturity of Ihree months or more. dl Impalimenl olfinanck41 assets Finana21 assets that are measured al cost and amortised cost are assessed al the end of eath reporling period lorobjeclive ewdence ol impairment. If objectwe ewdence of impahmenl15 found, an impaimient loss is re(x)gnised in profil or108S. For finanual assets m8asured al amortised cost. Ihe impaiiff*nl loss is measured a8 th6 diff8r6nce beb￿8Th an asset's carrying amount aT¥J the piesenl value ol eslimatsd eash flows discounted al the as5els original effe¢lNe interest rate.11 a financ￿4 asset has a vaiiable interest rale, the discount rale lor measuring any impairment Ioss is the current effective inleresl iale determined under the contract. For financial assets measured al u)gl18ss impaimienl, the impaiimenl loss is measuréd a5 the d￿erenCe between an assel's carrying amount and the best Éslimala, which is an approximalion, of the amount that the rjjmpany would for the awl if itwere lo be sdd al the reporling dale. dl Trade and other creditors Debt instruments Ilk6 loans and other occounts payable are inilally measured al pr8s8nl value ol the lulure payments and subsequenllyalamortised coslusinglheeffecliveinleresl m81hod. Deblinslruments Ihalare payablewlhin Dneyear, typically trade payab￿S, are measured. inibally and subsequBnlly, at the undiscounled amounl ol the cash or othtrr considwation expected to be paid. However, il the arrangemenls ol a short-term It￿InjMent conslilule a financing Irans8¢tion, like the pay￿*￿1 ol a trade debt deferred beyond normal I￿sinesS lems or financed 818 rale ol interest that is nol a tnarkel r816 in case ol an oulrighl short-lerm loan Ml al market rate, the financial asset is me8sured, initially and subsequent￿, al Ihe presenlvalue ollh8 future payments discrAJnled al a market rale ol inlwesl lor 8 similar debt inslrumenl. FlnaTK4al assets and liabilities are offset and Ihe nel amounl 18ported in the staternenl of finanaal w)sillon wllen there i% an enforceable right lo sel off the recognised amounts and ther8 iq an intention lo setlle on a nel ba￿S or to r8alise the 8ssel and sellle the liability simultaneously. The Chaiilable Company and subsidiary enter into other fin8ncig1 instrumwls th81 result in Ihe recognition of financ4al 8s5ets and Ivablilies al fair valuè. el F(Mward witracts As a result ol Ihe volatile u1511￿e$ market Ihe Charftable Company enters Into forward conlfacls to manage Its cash llow risk c¥)nceining the ol ulililies in the futur8. The fin8n¢i81 insliumenl is valued al the balance sheet da18 al18ir value. Fair value galns and losses are recognised in the slatemenl of01￿rI>)rn￿ehen57ve Income. Taxatlon The thrilable Company Ss an exempl Charity within Ihe rneaning of schedule 3 of the Charitie8 A¢1 2011 arKI is considered to P8SS the lesls sel out in Paragraph 1 S¢hedule 6 Finance Acl 2010 and therefore il me8ts the definition ol 8 chaiilable rA)mpanyfor UK corporallon lax purposes. Page | 37 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR TPfE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- conllnued Panslon costs and other posl.r•llr8ment beneflls In respeclollhose defined banefil penslon schemes where the local aulFK)rity has Indemnllied the charilab￿ companyagainsl changes in the empk)yer conliibullon rate and any liabililywhich may be¢om8 payable as a result of Ihe lerminalion or expiry of a contract, lh& atnounl charged lo the statement ol financial aclDiikn8s rew8senls the conlribulion payable to Ihe s¢h8m8 in the accounting peri￿J wilhoul any actuarial adjuslmenl Contributions to defined contributim pension schemes are charged to the Statement ol Fin8ndal Actiwties as incurred. Critical accountlng ffiudgem•nls and key sources of esllmallon uncgrtalnly In the applicalion ol th8 Charitable company's accounting policies manag8m8nl is required b make judgements, esllmalés and assumpt￿￿9 aboul the carrying value ol assets and liabililies that are nol readily apparent Irom olher sources. The eslimales and undedying assumptions are based on histOriCAI experien￿ and olherfaclors ihalare consid$red to bB rdevanl. Aelual resums may differfrom the eslvnates. The eshTnales and undertying assumplk)ns are reviewed on an ongoing basis. Re¥Asion8 to acuunling eslimales are recognised in the period in which the estim81e is revised if the revision affects onty that per￿d. or In the peri&J ol the rewsron and future periods illhe revision affects iK)Ih current and hjlure periods. The key source5 ole51imalion uncertainty that have a signllicanl ellecl the amounts reC￿JniSed in the financlal staleTllenls are". fv deprecialon charges that are calculated with referen￿ lo the uselul economiclileolfixed 8ss&ts, Ihe deferred income relating to memberships and bookirgs lor the follow4ng year and the proviS￿Jn lor gain sh3res in re5P8cI ol contracts to run facilities on behallol third partses. FINANCIAL ACTIVITIES OF THE CHARITY The financial activities shovm in the Group Slatemenl of Financial AclNilies include Ihose Of￿ charitab￿ Compan￿8 wlK)Ily owned subsidiary South Downs Leisure Enterprises Limited. A Slvntnary ol the financial actiwlies underleken by the Charitable Compony is sel out bebw.. 31.3.25 31.3.24 Gross Incoming resources operdl￿n ol ￿rSUre cenlres Grants Inule 51 Invesbnenl income Inole 71 10.791,984 4,638 74,031 9,855,278 5,390 10.870,653 110,142,5291 1111,9701 9,860,668 19,155,147) 556,113 Totsl expenditure on charitable ad1vil￿S E¥cepliond items Loan interest from subsidiary Net incomin91 loulgolligl resour￿$ 616,154 1,261,634 Income alld expenditure fvom charitable actsvities on the SOFA differs $I￿h11Y la the aclual income and 8wndilur6 01 th9 charity. This is because the ￿$01￿lated SOFA excludes £26,844 01 intercompany income, and £30,OtKJ ol inlercompany expendilure. Pag8 | 38 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM CHARITABLE ACTWITIES- ¢ontlnu8d 31.3,25 31,3.24 Gross incoming resources Operation ol leisure centres GrAnls 10,765,14a 4,638 9.855,278 5,390 Nel incLYlliNJ I loiityolwl rasources 10,769,778 9,860,668 Income trom ¢h8ri18ble actmties was £10.769,77812024.' £9,860,668) ol which £4.63812024.. £5.3901 was attributsble to restricted lunds and £10,765,14012024'. £9,855,278) was allrlbutab181o unrestricted funds. Granls recsived, induded In the aLKive, are as follows.. 31.3.25 31.3.24 Olher grdnls Other L(Kal Authority grants 4,638 5,390 Net incoming I loulgoingl resources 4,638 5.390 INCOMING I IOUTGOINGI RESOURCES FROM COMMERCIAL TRADING OPERATIONS A summary ol the trading results of the wMllyowned subsidiary Soulh Dwns Leisure Enlerpri5es Limited is shown below.. 31.3.25 31.3.24 Tumover Cost ol se￿5 and adminislralion costs Gift aid donation from subsidiary lo parent Interest on inler*roup108n Currenland deferred laxation 686,932 1606.0651 686,359 1634,1261 19,0571 Nel profiUO(tssl 77,419 33,176 Income and expendilure from other Iradiry aclivil*s on the SOFA differs slKJhlly to the adual income and expenditure ol the trading subsidiary. This is because the con501Miated SOFA exdudes £30,000 ol inler¢ompany income, aThJ £26,844 01 inlercompany expendilure. INVESTMENT INCOME 31.3.25 31.3,24 Dewskt a¢(thnl IiKorn8 74,031 74,031 There was income duriro the yearended 31 March 2025 relating lo inleresl earned from a deposit account. Investment income was £74,03112024.' £nill olwhlch £nil12024'. £nill was altributab￿ lo unreslrided funds. NET INCOMEIEXPENDITURE OF THE PARENT CHARITABLE COMPANY As pemiilled by section 408 01 Ihe Cornp8nie5 Act 2006, Ihe income and expendilure account ol the parent Charitaile CoTnpany is ml presented as part ol Ihese financi81 statements. The parent Charitsble Companls net incomiw resources was £616,15412CI24.. £1,261,634 incoming resources). Page | 39 SOUTH DOWNS LEISURE A COMPANY LIMITED B Y GUARANTEE NOTES TO THE CONSOLIDATED HNANCIAL STATEMENTS. CONTIN FOR THE YEAR ENDED 31 MARCH 2025 ED RESOURCES EXPENDED ON CHARITABLE ACTIVITIES COSTS Direct Costs 'rect Staff Costs Supwrt Costs (see note 101 31.3.25 Tot81 Charitable Acliwlies 31.3,24 Total Charilable Activities Leisu￿, recrealon and heakh 4,840,434 4,716,808 5,287 10.112,529 9,155,147 £8,81012024.' £40,857101 th8 above costs wor6 allributsble lo restrided fvnds and £10,106,87512024.. £9,114,290) ol the above costs were alliibulable lo unresliicled funds. 10. SUPPORT COSTS Supwrt costs, included in Ihe above, are as follows.. 31.3,25 Operation ol leisure, reCreat￿n srtes recreation siles and healih and hÉ8Hh activilies adNttles 31.3.24 Operalioll ol External support serv￿eS Adverhsing & marketin9 Office 8dministr8lion Con8ull8ncy TrainirvJ Finance costs Governance cost8 Other support costs 87,907 136,083 20,765 5,269 88.453 55,014 161,796 44,927 133,971 9,548 3,802 90,470 36,202 153,623 555,287 472,543 All support costs relate to the sole actiwty of the Charitable Company, bèing th8 provision ol ￿lSure, recreation and health semces. 11. NET INCOMINGIIOUTGOINGI RESOURCES Nel resources are stated after ¢hargingl Icredilingl.. 31.3.25 31.3.24 Hiro of 8quipmenl Depreclalion Arnilisalion Auditors, remuneralion Audltor8' rernuneralion lor nonkn8udilwork 5,14) 188,780 15,647 21,9Crf) 209,253 4,681 24,320 5.655 Page | 40 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. FOR THE YEAR ENDED 31 MARCH 2025 ONTINUED 12. TRUSTEES, REMUNERATtON AND BENEFITS Staff trustees only re¢elve remuneratlcfi in respect ol servS¢es they provKle undert8klno the roles of staff and not in r8spectof their services as trustees. Olherlwstees di(5 not recewe any paymenls from the Trust in respe¢l of their roles as trustees. The value ol truslees, remuneralion IGr05s salary, employerfs Nl, employerfs pensMsl WdS as follows.. J Fin¢h (Staff Ilusteel.. Remuneration.. £25,001- £30,00012024'. £20,001 . £25.0001 Employer's pension conlribulions.. £0- £5,00012024.' £Q- £5.0001 Trustees, Expenses 31.3.25 31.3.24 Tnjslees, expenses 30 13, STAFF COSTS 31.3.25 31.3.24 Company Wages and salaries Soci41 security costs Defined Contributi￿ pension costs Redundan¢y and severance payments 4,180,215 225,625 310,968 3.805.4 194.92Q 210,714 18,613 4.229,743 4,716,808 Subsldlary Wa￿$ and salaries Soryal se¢urity cosls Other pension costs 166,395 13,090 11,351 190,836 142,616 9,975 8,135 160,726 4,9)7,644 4 390.469 There were no Tedundancies in Ihe year lotalllng £ni512024'. £18,613). The average monlhly number DI employees during lh8 ye8rwas as Idlows.. 31.3.25 486 31.3.24 404 The lola atllDunl ol em￿0ye8 ben8fits received ty key management personnel Wds £531.933 12024.. £478,780). The Charitable Company considers ils key management personnel lo be the Ch￿1 Executive. Finance Director, Operat￿￿5 Director, HR Exeajlive. Bwness Development Manager, fv*) Op8r8lions Managers and staff Iruslees. The nurnber ol ern￿oyeeS ¥those emoluments fell wlhin the following barKls was.. 31.3.25 31.3.24 £70,(X)1 . £80,000 £￿,c￿l . £100,0(MI Page | 41 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINAMCIAL STATEPIENTS- CONTINUED THE YEAR ENDED 31 MARCH 2025 13. STAFF COSTS. ¢onllnued The numberal employees earning in excess of £60,000 Ilorlhe year) to whom reliremenl ￿nefitS ale ac4rnlng'. 31.3.25 31.3.24 14. TAXATION Thé Ch8rllab4e Company paid no coiporalion18x during Ihe year. Provisions lor £18,99112024'. £11,642) have been made al 31 Marth 2025 lor corporation lax due in respert ol Ihe surplus from trading aCtivi￿eS recorded in the year ended 31 hAarch 2025. During the year ended 31 March 2025 all trading aclivities were conducted by Ihe wholly owned Subs￿lary, Swth Downs Leisure Enleiprises Limited. Soulh Downs Leisure Enlerprises Limited has t￿0vISIOnS induded of £5,59312024'. £25,1241 in respect ol defe￿e(s laxati and ¥ ¢orpor81ion lax credilor 01 £18,99112024". £11.6421 in respect ol corporal'on payabl8 on profits rdating to trading in¢orne. The analysis ollhe lax charge on th8 profil lor the year was as follows.. 31.3.25 31.3.24 Currenl tax.. UK corporab'on tsx Under provision ol corwralion tax in the prfor year Deferred laxalion movement Tax on trading profil 18.991 3,988 19,531 3,448 11,642 7,415 19,057 15. INTANGIBLE FIXED ASSETS Group and company Computer software COST Al 1 April 2024 Additions Di5P05als Al 31 March 2025 111,871 AMORTISATION Al l April 2024 Charge lor year Eliminal&l on disposal 107,1 4.681 Al 31 March 2025 NET &OOK VALUE Al 31 March 2025 Al 31 March 2024 4,681 Page | 42 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 TANGIBLE FIXED ASSETS Group Exerclse Equipment Fixlur8s and IT. audio and rillings visual equiprnent Tolals COST Al l April 2024 Additions Disposa15 867,066 82,690 40,490 665.061 58,281 114.503 1.646,630 140,871 40,490 Al 31 March 2025 909,166 723,342 114,503 1.747,011 DEPRECIATION At1 April 2024 Charge loryèar Elimhaled on disposal 571,581 121.865 40,490 406.470 86,292 113,133 1,096 1,091,184 209.253 40,490 Al 31 M￿h 2025 652,956 492,762 114,229 1.259,947 NET BOOK VALVE Al 31 M8rch 202S 256,210 230,580 274 487,064 Al 3fj M8rch 2024 295,485 258,591 1,370 555.446 Company Exercise Equipm8ril Fixiures and IT. audio and fillings visual equipmenl Tota15 COST Al 1 April 2024 Additions D￿pOsal5 867,066 82,590 40,490 426,973 42,571 114,503 1.408,542 125,161 40,49J Al 31 March 2025 909.166 469.544 114,503 1.493,213 DEPRECIATION Al 1 April 2024 Charge loryear Elimin8l&J on disposal S71,581 121,862 40.490 263,190 77,609 113.133 1,096 947,904 200,567 Al 31 March 2025 652,953 340,799 114,229 1,107,981 NET8OOKVALUE Al 31 M3rch 2025 256,213 128,745 274 385,232 Al 31 March 2024 295,485 163,783 1,370 460,638 Page | 43 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE ATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2 17. FIXED ASSET INVESTMENTS Company Shares in group undertakings MARKET VALUE At 1 April 2024 31 March 2025 NET BOOKVALUE Al 31 hlarch 2024 and 31 March 2025 There were no inveslmenlassets outside the UK. The compan￿$ Investments al the balance sheet dale in Ihe share ca￿tal ol companies included the lollomng.. Soulh Downs Leisure Enterprlses Llmlled l¢ompany number 092615011 Naiure ol business.. Operation ol an events venue Cjass olshare.. Ordinary holding 100 31.3.25 31.3.24 Aggregate capital and reserves Total ProfiVILossl for the ye8r 343,524 77.419 266,105 18. STOCKS Group Company 31.3.25 31.3.24 31.3.25 31.3.24 Stocks 67,338 46,980 67,338 46,980 Slwk amounts recognised wilhin expendllure forlhe ojrrenl pericxl are E463,43312024.. £491,890). DEBTORS Group Company 31.3.25 31.3.24 31.315 31.3.24 Trade debtors Olherdebtors VAT Prepayments 8nd accpjed income Amounts Owed by group undertakings 203,119 34,262 162,993 39,240 32,176 184,786 122,979 34.262 138,646 39,240 32,176 169,035 134,249 513,346 192,486 178,819 429,867 419,195 336.060 20. CURRENT ASSET INVESTMENTS Group Company 31.3,25 31.3.24 31.3.25 31.3.24 Short term depo&l accounl 2.or>o,o(Ml 1,000,000 2,000,￿]0 1,0[￿.000 Page | 44 SOUTH DOWMS LEISURE A COMPANY LIMITED B Y GUARAMTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONT FOR THE YEAR ENDED 31 MARCH 2025 NUED 21. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group Company 31.3.25 31.3.24 31.3.25 31,3.24 Trade creditors Social securityand other tax Olher(T8dllors Accrued expenses Deferred income VAT Amount8 due to gioup undartakings 186,987 18,991 115,414 1,120,082 315,574 5.667 174,194 11,642 5,758 1,105.561 252,432 180,136 165.197 115,414 1,112,010 134,817 5,667 295,357 1,843,401 5,758 1,105,561 133,460 1,762,715 1.549,587 1,409,976 The Charitable Company has entere(5 into forward contrads to wrchase utilit￿S in the lulure al a conlracfrd rate. The foNard conlracis relate lo ￿lIodS whrch span from April 2025 to April 2029 and th8 purchases ol ulililies that Ihe forward contracts relate lo also gp8n from April 202510 April 2￿29. The fairvaSue ollhese forward contracts al the balance sheet date is i￿lUded wilhin other creditors. The whole change in the lair value of the lotward contracts has been reL¥jgn￿ed in Other Compreh8nsiv8 81 the year end. No am(￿￿18 were reclassified from equity to in¢ome and expenditure. Deferred Income GroLfP Company 31.3.25 31.3.24 31.3.25 31.3.24 Deferred income al the s12ri of the year D81erred during th8 per￿d Amounts released lo income from pr￿r periods Deferred income al Ihe end ol the year 252,432 315,574 252,432 315,574 292,840 252,432 292.840 252,432 133,460 134,817 133,460 134,817 134,598 133,460 134,598 133,460 Deferred inccfflea131 Marth 2025forlhe Ch8ri18bleCompenyrepresenls annual leisure membership incorne and hires, where the consideration has been [￿1Ved in the year ended 31 March 2025 bul the seNces were only pro￿lded folbw"TVJ the year end. The Group de16rred income also 1r￿kJdeS venue hire income underlhe same prinL#ples. PROVISIONS FOR LIABILITIES Group Company 31.12.25 31.12.24 31.12.25 31.12.24 Deferred taxal￿n 5,593 25,124 5.593 25.124 Page | 45 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 23. OPERATING LEASE COMMITMENTS Minlmum lease paym&)Is fall due as follows.. Nanon￿lIable op8r8tirKJ leases 31.3.25 31.3.24 Due < 1 year DLE 1-2 years DLE 2.5 years Operating lease amounts recognised vllhin exper￿ltUre forlhe wrrenl per￿d are £nil12024.. £5,190). 24. ANALYSIS OF NET ASSETS BETWEEN FUNDS Group 31.3.24 Total funds Urirestricted funds Restricted funds Totsl funds Fixed Assets Currenl Assets Current Lk9bililres Long Tetfll Liabilities 487,064 4,542,539 11,768,308) 487.064 560.127 4,543.129 3.582,896 11,768,3081 11,574,711) 590 3,261.295 590 3,261.885 2,568,312 Company 31.3.25 Re8lri¢ted funds Totsl funds 31.3.24 Total Unreslricled funds Fixed Assets Inv8sltDenl Current Assets Current Liabilities Long Te￿ll Liabilities 385,232 385,232 465,319 4.375,940 11,843.4011 590 4,376,530 3,246,863 11,843,401) 11,409,976) 2,917,772 590 2,918,362 2,302,207 Page | 46 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF NET ASSETS BETWEEN FUNDS. conllnu8d Comparative infomalion in respect of Ihe preceding pericd is as Idlows.. Group 31.3.24 Restricted funds Total tunds 31.3,23 Total fu￿8 Unreslrlcted funds Fixed Assets Currenl Assets Curreril L￿bilItieS Long Term Liabililies 560.127 3,578,134 11,574,711) 560,127 551,023 3,582,896 2,577,459 11,574,711) 11,854,980) 4,762 2,563,550 4.762 2,568.312 1.273,502 Company 31.3.24 Reslricled funds Total funds 31.3.23 Total fJJnds Unreslrlcled funds Fixed Assels Investm6nl Current Assets Current LiabS1Stles Long Term Liaknllties 465.319 465,319 457,519 3,242,101 11,409,976) 4,762 3.246,863 2,242,086 11,409,976) 11,659,032) 2,297,445 4.762 2,302.207 1.040,574 Page | 47 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 ONTINUED 25. MOVEMENT IN FUNDS Group At 1.4.24 N91 movement In funds Al 31.3.25 Unreslricled funds General 266,105 77,419 343,524 Designaled. Worlhing Risk Res& Designated- Worlhing 8usiness Improvement Reserve Designated- Worthing Palaline Park De5ignaled. Adur Business Improvemenl Res8rye Designated. Sea Lanes Risk Re5eNe Designated- Sea Lanes Business Imwovemenl ReseFve DeSignat￿- Palallne Park S4nking Fund 891,000 1,034,944 14,5991 174.534 125,000 76,566 891,IMIO 1,398,925 14,4101 389.355 130,(KJO 224,871 363,981 189 214,821 5.000 148,305 Designated cashflow hedge 111,970 697,745 111.970 3,261,295 2,563,550 R8strf¢l8d lunds Reslricied funds 4,762 14,1721 590 TOTAL FUNDS 2.568,312 693,573 3,261,885 Company Al 1.4.24 N81 movemènt in funds Al 31.3.25 Unroslrlcted fund5 Designated. Wcrthing Risk Resetve DesKJnaled- Worthing Business Improvement Reserve Desiqnaled- Worthing P818line Pafk DesKJnaled- Adur Busiriess Improvemenl R8s8rve DesvJnated- Seo La￿$ Risk Reserve De8￿Trated- Sea Lanes Business Improvement ReseNe DesKJnated- PaLsline PaFk Sinking Fund 891,000 1,034,944 14,5991 174,534 125,000 76,566 891,0(Ml 1,398,928 14,4101 389,3 130,000 224,871 363,982 214,821 5,0( 148,305 Desvjnated cashflow hedge 111,97Ql 620,327 111970 2,917,772 2,297,445 Restrlcted funds Reslricled funds 4,762 14,1721 TOTAL FUNDS 2,302,207 616,155 2,918,362 Page | 48 SOUTH DOWNS LEISURE A COMPAMY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 25. MOVEMENT IN FUNDS. contlnuld Comparative information in respect of the preceding peThyJ Lq as follows.. Group At 1.4.23 Nel movement in funds Al 31.3.24 Unreslrlcled funds General 234,921 31,184 266,105 Deslgnated-worthing Risk ReseNe Designaled-worthing Business Improvement Res8Ne DÈsignal8d. Worthit¥J Palatine Park Oesignaled- Adur Business Irnprovemenl ReseNe Designated- Sea Lanes Risk ReseNe Designated. Sea Lanes Bugness Improvement ReseNe Deslgnaled- Palatine Park Sinking Fund 891,(KlO 659,051 4,414 891,tNJo 1.034,944 14,5991 174,534 125,000 76,566 375.893 19,0131 174,534 125.000 76,566 De8rgnated cashflow hedge 556,113 1,233,273 556,113 1,330,277 2.563,550 Reslrlclad funds Reslricled funds 40,229 135,4671 4,762 TOTAL FUNDS 1,273,502 1,294,810 2,568,312 Company At1.423 Nel movement In funds Al 31.3.24 Unrestricted funds Designated- Worthing Risk Reserve Designated- Worthing Business Improvement Reserve Designated- Worthing Palalin8 Park Design8led- Adur Pusiness Imwovemenl ReseNe Designated- Se8 Lanes Risk ReseNe Designated. Sea Lanes Business lrnproveTnenl ReseNe Designated- Palatine Park Sinking Fund 891,000 661,044 4,414 89fl,￿O 1,034,944 14.5991 174,534 125.000 76.566 373,￿)0 19.0131 174,534 125,000 76.566 Designated cashflow hedge 556,113 1,000.345 556,113 1,297.100 2,297,445 Reslricted funds Reslricled fun(L8 40,229 135,4671 4,762 TOTAL FUNDS 1.040,574 1,261,633 2.302,207 Page | 49 SOUTH OOWNS LEISURE A COMPAMY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 25. MOVEIAENT IN FUNDS- continued Group ￿n￿me Expendllure Transfers Net movèment In funds Unreslricled funds General 686,932 1609,5131 77,419 CEslgnated-Worlhlw ￿sk De$lgnaled- Worfhlng Buslness Improv8￿nI ReservÈ Ddsignated- Worfhing P81ab"De Park Designated- Adur B￿￿neSs Improvement Reserye Designated- Sea Lanes Risk Reserve DeswJnaled- Sea Lan8s Business Imwovem￿I Reserve DeS￿nated. Palaline Park Sinking Fund 6.673.570 83,613 2,935.817 16,306.7011 159,3351 12,715,8481 12,8881 124,0891 15,1481 5,000 2,125 25,000 363,981 189 214,821 5.000 148,305 1,116.171 1969,9911 125,0001 Designated cashfiow hedge 111,970 110,798,358) 111.970 697,745 11,496,103 Restrf¢led funds Reslricled funds 4,638 18,8101 14,1721 TOTAL FUNDS I1,5￿,741 110,807,168) 693,573 Company Incomo Expondlturo Trnnslérs N81 movement in funds Unrestrfcted funds Oesignated-worfhiig Risk ReseNe oe51gnaled-worth￿g Business SmprovemenlReser¥e Oesigroied-worthkng Palatine Park Design8ted-AduY Bu￿n￿$ IMp￿Vement Reserve DesiyMted- s￿ LatEs Risk Res8￿6 Oesign8t8d-Sea La￿$ Buslness Improvement ReseNe Designated- Palaline Paik Sinking Fund 6,673,570 83,613 2,935,817 16,306,700) 159,3351 12,715,848) 12,8881 124,0891 15,1481 5,000 2,125 25,CQO 363,982 189 214,821 5.0(YJ 148,305 1,116,171 IWJ,9911 125,0001 Deslgnated cashflow hedge 111,970 110,188.8441 111,970 620,327 10,809,171 Re$lrfcted funds Restrided funds 4.638 18.8101 14,1721 TOTAL FUNDS 10,813.809 10 197,654 616.155 P4el50 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 25. MOVEMENT IN FUNDS- conlSnued Comp8ralive inlormaiion in respect ol the preceding period is as follows Group Income Expendllure Transfgrs Nel movement Sn funds Unréslrlcted funds Coneial 686,359 1653,1831 11,9921 31,184 Oesignaled-worthing Risk Resen e5ignated- Worthino Busin8s3 ImproveNent Resep Designated. Worthing Palaline Park D8sign8led-Adur8LWtESS Improvefflelll ReseNe De￿gn8te￿- Sea L￿e$ Rlsk Reserye De￿gnaled-sea Lw8s Bu8ine&s lTryovemenl Reserv8 Dewgnat8d- P81abne Park Sinking FurKI 6.146,189 67,559 2,619,921 16,189,372) 176,5721 12,003,303) 419,076 375,893 19,0131 174,534 125,000 76,568 1442,0841 125,000 1125,0001 25,000 1,021,609 1820,0431 125,0001 Designated ￿h￿OW hedge 556.113 11,097.750 556,113 1,330,277 19,767,473) Restrlcled fund5 ReStr￿ted funds 5,390 140,857) 135,4671 TOTAL FUNDS 11,103,140 19,808,330) 1,294,810 Company Income Expendllure Transfers Net movement In funds Unreslrlcled funds Designaled-worthfftg Risk Reserve eswnaled-worthlng 8usne5s Improvement Reserve L￿S￿nated.WOrth1￿9 Palaline Paik Deslgnaied-Adur BtL%ness Improv8meTrl ReseNe ignaled- Seb Lan85 Risk ResoNe DEslgnated- Lanes 8uwness Improv8m8nl Re8erve DeS￿nated- Pabline Park sink￿ Fund 6,146,189 67,559 2,619,921 16,189,373) 176,5721 12,003.3031 417.084 373.9 19,0131 174,534 125,QOO 76,566 1442,0841 125.000 112S,OQOI 25,000 1,021,609 1820,0431 125,0001 Designated cashflow hedge 556,113 10,411.391 556,113 1,297,100 19,114,291) Restricted funds Reslficted fi)nds 5.390 140,8571 135,4671 TOTAL FUNDS 10,416,781 9,155,148 1.261633 Page | 51 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 PIARCH 2025 25, MOVEMENT IN FUNDS-contlnuod Green Dreams (Worthingl Thisfunding reFales loGreen Dreams Fegb'v81, en event shol￿sIng local community, social enlerpri58groupsand greenspace initiatives. Palatln• Park Slnklng Fund From 1 April 2022 a sinking lundwill be sel aside bySDL payable lo the Ictal 8ulhority in resped of Palatine Pad(. Commen(1 on 31 Marth 2023 and every yearthereaftar SDL shall me funds to Ihe sum 01£25,0(M). On termination oflhe deed, the lease, and theagreemenl, SDL have nodaim overthe sinking fU￿j andlhefojlball develcpment fu￿. In Ihe year, costs were accrued lo the value 01£25,OCK)12024', £25,000), In respect ollhi5 sinking fund. The lotsl value ol the accrual bwng carri￿ forward in lh8 accounts ￿ £75,00012024.' £50,000). Page | 52 SOLITH DOWPIS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 IAARCH 2025 26. CAPITAL COMMITMENTS Group Company 31.3.25 31.3.24 31.3.25 31.3.24 Conlraded lor bul not provided lor in the finanual slalements 27. LEGAL STATUS The Charity IS 8 Company Ilmiled byguarantee and h85 no share capital. The liabilityof each membeT in the event olvAnding RELATED PARTY TRANSACTIONS During the previous year South Downs Leisure engaged in servi￿5 from I￿pace Fitness Limited, a company in which Phillip Griffin, a Iiuslee until his re￿gnatIon from the board on 1 February2024, is a director. £nil12024'. £77,912 + VATI was involced for gym equlpmenl. As al 31 March 2025. South Downs Leisure owed £nll12024.' £nill lo Inspace Filness Limited. During the year the Soulh Downs Leisur8 Group received iwme from a reLaled party, Mark Byer18y IOp8ralions D1￿clOrI. The income relates lo the rent ol a property Nned by Ihe Irusl, with sales coming lo £5,40012024.' £5.4001. was £nil 12024.. Enill owed to the group al the year end. Soulh Downs Lelsuro Enterprlses Llmlted DuriT¥J Ihe year costs w8re rocharg*d lo South Downs Leisure Enterprises lor wage5, rent, managèment charges VAT. As al 31 March 2025 South Downs Leisure EnIerpr￿eS was owed £295,357 liom the parenl12024'. £ nlll. The parenlcompany was owed Enil12024.' £134,2491 from the subsldiary as al 31 M8rch 2025. BANK BORROWINGS AND SECURITY Lloyd's Bank PLC has s fiKed & Roaling charye overall propertyof ￿ subsidiary company, South Downs Leisure Enterprises Limited. Th￿ seojres any potential lulure bank borrowr¥Js. Page | 53