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2022-12-31-accounts

Charity Registration No. 1164829

Company Registration No. 08824435 (England and Wales)

LOCKLEAZE SPORTS CENTRE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

St Matthew's House Quays Office Park Conference Avenue Portishead Bristol BS20 7LZ

LOCKLEAZE SPORTS CENTRE TRUST

CONTENTS

Page
Company informaton 1
Trustees' Report 2 - 8
Independent auditor's report 9 - 13
Consolidated Statement of fnancial actvites 14
Consolidated Balance sheet 15
Charity Balance sheet 16
Consolidated Statement of cash fows 17
Notes to the fnancial statements 18 - 34

LOCKLEAZE SPORTS CENTRE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A M Siddorn
J S D Tyler
W J Marshall
N A Mitchell
M D Innes
A J Tuton
A Isaac
T J King (Appointed 17 May 2023)
Chairman N A Mitchell
Senior Management/Leadership Team A Wright, Chief Executve
Charity number 1164829
Company number 08824435
Principal Ofce Bonnington Walk
Lockleaze
Bristol
BS7 9XY
Registered ofce Bonnington Walk
Lockleaze
Bristol
BS7 9XY
Auditor TC Group
St Mathew's House
Quays Ofce Park
Conference Avenue
Portshead
Bristol
BS20 7LZ

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees, who are directors for the purpose of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2022.

The financial statements, have been prepared in accordance with the accounting policies to the financial statements and comply with the charitable company's Trust Deed, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective from 1 January 2019)

Objectives and activities

The Lockleaze Sports Centre Trust, a non-profit making organisation, was set up in 2013.

The objects of the Charity are:

  1. to promote social inclusion by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society: and

  2. to promote the health of the community through participation in sport and other physical activities for the public benefit of the inhabitants of Bristol and the surrounding area by the provision of sports, leisure and recreational facilities.

For this purpose of the Articles, socially excluded shall mean those who are excluded from society or part of society as a result of being part of an economically or social deprived group.

The Trust manages a new Sports Facility, built by Bristol City Council & the Lockleaze Ground Trust (Charity No: 301694) during 2018 on land owned by the Council & the Lockleaze Ground Trust,

The Trust has 125 year leases from the two land owners, which were engrossed on 29th March 2019. Bristol City Council took over the Facility from the Contractors in January 2018, when the Facility opened. During 2018, the Trust managed the Facility on behalf of Bristol City Council.

The Facility is on some 20 acres of land in the Lockleaze area, part of which is in Bristol City and part in South Gloucestershire. The Facility consists of two all-weather pitches, one for rugby and the other for football, a further 4 grass pitches, a Multi Use Games Area (which became operational in 2020) , and a two storey building with changing facilities and social areas.

The day to day management and operation of the Facility is carried out on behalf of the Trust by Lockleaze Sports Centre Ltd, a trading subsidiary of the Trust.

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives, strategies and activities

The Facility has a number of sporting Clubs, both rugby and football as regular users. In addition the University of the West of England is a major user for their mid-week sporting activities.

Bristol Rovers Community Trust BCRT (a charity, which is not connected to the Football Club), is a major user for their community programmes aimed at addressing social deprivation in the Lockleaze and surrounding areas. The Facility is the headquarters of the Bristol & District Rugby Football Combination and the Rugby Football Union, Bristol Schools Union, the Bristol Referees’ Society, Bristol Bears and many other organisations use the Facility for matches, training sessions both player & coaching and meetings etc.

In the early part of 2021 Padel Tennis UK, approached the Trustees, with a proposal to build 4 indoor Padel Tennis courts on the land adjacent to the Football All-weather pitch. Consent was received from BCC for a sublease and also planning consent. The Courts were completed in April 2022. The facility is very well used and offers a service to the local Community and the wider Bristol Area.

During 2022, the Facility operated to full sporting capacity at peak times with off peak bookings increasing as the Facility became seen as part of the local scene. The catering and bar facilities providing a welcome service to both players and spectators alike and overall the financial targets were exceeded.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit running a charity (PB2)'.

During 2022, the Trustees have pursued the plans, outlined above to operate the facilities at Lockleaze for the public benefit.

The following is a brief list of specific activities carried out by the Trust during 2022 for public benefit

LSC Ltd provides the facilities either free of charge or at greatly reduced rates.

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.

Achievements and performance

During 2022 the Charity continued to run the Facility for the benefit of local sports clubs and organisations and the local community.

The Facility, continues to be a centre for both sporting and community activities and is seen as the a centre for outdoor recreation in all aspects.

Financial review

The results for the year shown in the Consolidated Statement of Financial Activities on page 14.

During 2022 the trading subsidiary made a deficit of £51,806 (2021 surplus of £55,330).

The charity's subsidiary made a gift aid payment to the charity from its profits amounting to £60,000 (2021 £Nil).

Policy on reserves

The trustees have examined the charity’s reserve requirements in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of expenditure. Budgeted expenditure for 2023 is £687,420 and therefore the target is £171,855 and £343,710 in general funds.

The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a downturn of income.

The present level of reserves available to the charitable group are £707,419 (2021 £715,016) therefore falls significantly over the target level.

Investment policy and objectives

Aside from retaining a prudent amount in reserves each year in the short term the trustees plan to keep all liquid funds available for land and building development to further enhance the charity's offering.

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Plans for future periods

Aims and key objectives for future periods

Having become fully operational during 2019, the Trust and the trading company continued to work with local sports clubs and the community to run programmes for the benefit of those who are socially excluded and assisting them to integrate into society.

The original planning permission included a four badminton court sized sports hall and this has become Phase 2 of the project, This will enable the Trust to extend provision to include indoor sports for disabled and others as well educational areas for use by various organisations, in particular those based in the Lockleaze area . Due to COVID this project has been put on hold and it is anticipated that during 2023, the Phase 2 plans will be reviewed with a view to prioritising local needs.

During 2022, the Trust was approached by the University of the West of England with a view to providing another all-weather pitch, aimed primarily for hockey but also available to the Lockleaze Sports Centre at times when not required by the University. This to be on the area next to the football all-weather on a largely unused grass pitch. Planning approval has been given and it is anticipated that completion will be in the Autumn of 2023.

Going concern

The Trustees are not aware of any material uncertainties that could cast a significant doubt about the charity continuing to adopt the going concern basis of accounting.

The operation committee have built prudent forecasting models until end of 2023/2024 to demonstrate the charity’s sustainability.

Structure, governance and management

Nature of governing document

The charity is registered as a charitable company (charity number 1164829) limited by guarantee and was set up by a Memorandum of Association dated 23 December 2013. The charity is registered in England and Wales.

M L Shore (Resigned 17 May 2023) A M Siddorn J S D Tyler W J Marshall N A Mitchell M D Innes A J Tutton A Isaac T J King (Appointed 17 May 2023)

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Recruitment and appointment of trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Potential new Trustees are identified by the Bristol & District Rugby Football Combination and the existing Trustees.

Induction and training of trustees

On appointment, the Chair will meet with the new Trustee to discuss the background, objectives, structure and governance of the charity as well as its financial position. The new Trustee will be provided with an induction pack including the Trust Deed, financial statements, and Charity Commission guidance on the role of a Trustee.

Arrangements for setting key management personnel remuneration

All Tustees give their time freely and no Trustee received any remuneration or expenses in the year.

Trustees are required to disclose all relevant interests and in accordance with the charity's policy withdraw from decisions where a conflict of interest arises.

Organisational structure

The Trustees meet on a regular basis to review the operation of the charity and its finances.

Major risks and management of those risks

General

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of trustees' responsibilities

The trustees, who are also the directors of Lockleaze Sports Centre Trust for the purpose of company law, Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

The auditors TC Group are deemed to be reappointed under section 487(2) of the Companies act 2006.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

LOCKLEAZE SPORTS CENTRE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

This report has been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK & Republic of Ireland (FRS 102) (effective 1 January 2019).

The Trustees have prepared this report in accordance with the provisions applicable to companies subject to the small companies regime.

The annual report was approved by the Trustees and signed on its behalf by:

J S D Tyler Trustee

Dated: 15 September 2023

LOCKLEAZE SPORTS CENTRE TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF LOCKLEAZE SPORTS CENTRE TRUST

Opinion

We have audited the financial statements of Lockleaze Sports Centre Trust (the 'charitable parent company') and it's subsidiary (the 'group') for the year ended 31 December 2022 which comprises the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charity Balance Sheet, Consolidated Statement of Cash Flow the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Charities SORP - Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

LOCKLEAZE SPORTS CENTRE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF LOCKLEAZE SPORTS CENTRE TRUST

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report or the strategic report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require(s) us to report to you if, in our opinion:

LOCKLEAZE SPORTS CENTRE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF LOCKLEAZE SPORTS CENTRE TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

LOCKLEAZE SPORTS CENTRE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF LOCKLEAZE SPORTS CENTRE TRUST

Our approach was as follows:

Based on this understanding we designed our audit procedures to identify non-compliance with such taws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

LOCKLEAZE SPORTS CENTRE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF LOCKLEAZE SPORTS CENTRE TRUST

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable companyts members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

Amanda Kruger FCCA (Senior Statutory Auditor) for and on behalf of TC Group

Statutory Auditor Office: Portishead

15 September 2023

LOCKLEAZE SPORTS CENTRE TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Unrestricted
funds
funds
general
designated
2022
2022
Notes
£
£
Income and endowments from:
Donatons and legacies
3
-
-
Charitable actvites
4
321,342
-
Other trading actvites
5
342,320
-
Investments
6
643
-
Other income
7
9,571
-
Total income
673,876
-
Expenditure on:
Raising funds
8
171,391
-
Charitable actvites
9
515,057
205,124
Total resources expended
686,448
205,124
Net expenditure for the year/
Net movement in funds
(12,572)
(205,124)
Fund balances at 1 January 2022
715,016
7,380,288
Fund balances at 31 December 2022
702,444
7,175,164		 Total
funds
2022
£
-
321,342
342,320
643
9,571
673,876
171,391
720,181
891,572
(217,696)
8,095,304
7,877,608		 Total
funds
2021
£
95,400
319,082
215,461
28
6,530
636,501
109,849
649,077
758,926
(122,425)
8,217,729
8,095,304

The consolidated statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LOCKLEAZE SPORTS CENTRE TRUST

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilites
Creditors: amounts falling due afer
more than one year
19
Net assets
Unrestricted income funds
Unrestricted funds		 2022
£
£
7,659,791
5,285
47,603
395,916
448,804
(192,052)
256,752
7,916,543
(38,935)
7,877,608
7,877,608		 2021
£
£
7,848,248
6,974
72,134
417,045
496,153
(204,793)
291,360
8,139,608
(44,304)
8,095,304
8,095,304

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 15 September 2023

J S D Tyler Trustee

Company Registration No. 08824435

LOCKLEAZE SPORTS CENTRE TRUST

CHARITY BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
14
Investments
Current assets
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilites
Unrestricted income funds
Unrestricted funds		 2022
£
£
7,659,791
1
7,659,792
63,168
275,763
338,931
(128,002)
210,929
7,870,721
7,870,721
7,870,721		 2021
£
£
7,848,248
1
7,848,249
14,280
299,309
313,589
(130,202)
183,387
8,031,636
8,031,636
8,031,636		 2021
£
£
7,848,248
1
7,848,249
14,280
299,309
313,589
(130,202)
183,387
8,031,636
8,031,636
8,031,636
7,848,249
183,387
8,031,636
8,031,636
8,031,636

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 15 September 2023

J S D Tyler

Trustee

Company Registration No. 08824435

LOCKLEAZE SPORTS CENTRE TRUST

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash fows from operatng actvites
Cash generated from operatons
25
Investng actvites
Purchase of tangible fxed assets
Interest received
Net cash used in investng actvites
Financing actvites
Repayment of bank loans
Net cash (used in)/generated from
fnancing actvites
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(30,507)
643
(5,369)		 £
14,104
(29,864)
(5,369)
(21,129)
417,045
395,916		 2021
£
(45,464)
28
186		 £
112,695
(45,436)
186
67,445
349,600
417,045

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity status

The charity is limited by share capital, incorporated in England and Wales.

The address of its registered office is: Bonnington Walk Lockleaze Bristol BS7 9XY

1.1 Accounting convention

Lockleaze Sports Centre Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

The financial statements are prepared in sterling, which is the functional currency of the charitable group . Monetary amounts in these financial statements are rounded to the nearest £.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Statement of compliance

The consolidated financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 December 2022.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a loss after tax of for the financial year of £165,890 (2021 - loss of £177,755).

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the statement of financial activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting polices into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

1.2 Going concern

The financial statements have been prepared on a going concern basis.

The operation committee have built prudent forecasting models until the end of 2024 to demonstrate the charity's sustainability.

The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.3 Incoming resources

All income is recognised once the group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be reliably measured.

Grants receivable

Grants are recognised when the group has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

1.4 Resources expended

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable that settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.

All resources expended are exclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor area, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees' meetings and reimbursed expenses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Between 30 and 125 years Plant and equipment 15-25% straight line basis Fixtures and fittings 15-25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.6 Fixed asset investments

Investment in subsidiary entities are held at cost less impairment.

1.7 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charitabke company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled.

1.10 Retirement benefits

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

(Continued)

1.11 Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the group.

Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes. The designated fund for fixed assets is part of the unrestricted funds that represent fixed assets used in the day to day operations of the charity.

2 Critical accounting estimates and judgements

The group makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal to the related actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next year are addressed below.

I) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimate useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimate based on technological advancement, future investments, economic utilisation and the physical condition of the assets, see note 13 & 14 for the carrying amount of each class of asset held, and above for the useful economic lives for each class of assets.

II) Impairment of debtors

The group makes estimates of the recoverable value of debtors. When assessing the impairment of debtors, management consider factors including the current credit rating of the debtor, the ageing profile of debtors and historic experience. See note 17 for the net carrying amount of debtors and associated impairment provision.

3 Donations and legacies

Unrestricted Unrestricted
funds
funds
general
designated
2022
2022
£
£
Grants from companies
-
-
For the year ended 31 December 2021
50,400
45,000		 Total
2022
£
-		 Total
2021
£
95,400
95,400

No grants were received by the charity in 2022.

During 2021 the charity benefited from an unrestricted capital grant from Sport England's Community Asset Fund for £45,000 supporting Covid-19 return to play schemes and a further unrestricted grant of £50,400 from Sport England to support the trading position through the transition coming out of lockdowns.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

4 Charitable activities

Unrestricted Unrestricted funds
funds General
General
2022 2021
£ £
Sportng actvites 321,342 319,082

5 Other trading activities

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Trading income;
Sales of goods and services 342,320 215,461

6 Investments

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Interest receivable 643 28
Other income
**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Other income 9,571 6,530

7 Other income

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

8 Raising funds

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Trading costs
Costs of goods sold 171,391 109,849
171,391 109,849

9 Charitable activities

Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Depreciaton and impairment
218,964
224,641
Share of support costs (see note 10)
489,242
417,936
Share of governance costs (see note 10)
11,975
6,500
720,181
649,077
Analysis by fund
Unrestricted funds - general
515,057
445,112
Unrestricted funds - designated
205,124
203,965
720,181
649,077		 Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Depreciaton and impairment
218,964
224,641
Share of support costs (see note 10)
489,242
417,936
Share of governance costs (see note 10)
11,975
6,500
720,181
649,077
Analysis by fund
Unrestricted funds - general
515,057
445,112
Unrestricted funds - designated
205,124
203,965
720,181
649,077		 Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Depreciaton and impairment
218,964
224,641
Share of support costs (see note 10)
489,242
417,936
Share of governance costs (see note 10)
11,975
6,500
720,181
649,077
Analysis by fund
Unrestricted funds - general
515,057
445,112
Unrestricted funds - designated
205,124
203,965
720,181
649,077
2022
£
218,964
489,242
11,975
720,181
515,057
205,124
720,181		 2021
£
224,641
417,936
6,500
649,077
445,112
203,965
649,077

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

10 Support costs

Support costs
Staf costs
Staf training
Premises costs
Telephone, sofware and subscriptons
Advertsing and sundry expense
Travel
Finance charges
Bad debts writen of
Legal, consultancy and accountancy
Audit fees
Analysed between
Charitable actvites		 Support
costs
Governance
costs
£
£
225,028
-
555
-
174,534
-
20,225
-
9,537
-
217
-
20,035
-
1,300
-
37,811
-
-
11,975
489,242
11,975
489,242
11,975		 2022
£
225,028
555
174,534
20,225
9,537
217
20,035
1,300
37,811
11,975
501,217
501,217		 2021
£
170,245
340
124,426
28,195
8,672
-
19,343
-
66,715
6,500
424,436
424,436

Governance costs includes payments to the auditors of £11,975 (2021- £6,500) for audit fees.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

11 Employees

Number of employees

The average monthly number of employees during the year was:

Core staf
Food & beverage staf
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
4
18
22
2022
£
211,285
10,611
3,132
225,028		 2021
Number
5
22
27
2021
£
163,222
5,140
1,883
170,245

The above staff numbers equates to 10 (2021: 8) full time equivalents.

Contributions to the employee pension schemes for the year totalled £3,132 (2021: £1,883).

4 (2021: 4) of the above employees participated in the Defined Contribution Pension Schemes.

No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity (2021: £Nil).

There were no employees whose annual remuneration was £60,000 or more.

12 Taxation

The group is a registered charity and is therefore exempt from taxation in respect of income and capital gains received with s478-489 of the Corporation Taxes Act 2010 and s256 of the taxation of the Chargeable Gains Act 1992, to the extent that these are applied to its charitable objects purpose only. The trading subsidiary is loss making and hence no amounts chargeable to corporation tax in the current year.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

13
Tangible fxed assets
Group
Leasehold land
and buildings
£
Cost
At 1 January 2022
8,381,506
Additons
23,865
At 31 December 2022
8,405,371
Depreciaton and impairment
At 1 January 2022
554,606
Depreciaton charged in the year
205,124
At 31 December 2022
759,730
Carrying amount
At 31 December 2022
7,645,641
At 31 December 2021
7,826,900		 Plant and
equipment
£
69,341
1,663
71,004
56,259
8,509
64,768
6,236
13,081		 Fixtures and
ftngs
£
21,108
4,979
26,087
12,842
5,331
18,173
7,914
8,267		 Total
£
8,471,955
30,507
8,502,462
623,707
218,964
842,671
7,659,791
7,848,248

Included within the net book value of land and buildings above is £Nil (2021: £Nil) in respect of freehold land and buildings and £7,645,641 (2021: £7,826,900) in respect of leaseholds.

Land and buildings have been valued by Andrew Forbes Chartered Surveyors during 2019 on an open market basis in accordance with guidelines issued by the Royal Institute of Chartered Surveyors. The trustees do not believe that there is any significant change in this valuation as at the 31 December 2022.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

14
Tangible fxed assets
Charity
Leasehold land
and buildings
£
Cost
At 1 January 2022
8,381,506
Additons
23,865
At 31 December 2022
8,405,371
Amortsaton and impairment
At 1 January 2022
554,606
Depreciaton charge for the year
205,124
At 1 January 2022 and 31 December 2022
759,730
Carrying amount
At 31 December 2022
7,645,641
At 31 December 2021
7,826,900		 Plant and
equipment
£
69,341
1,663
71,004
56,259
8,509
64,768
6,236
13,081		 Fixtures and
ftngs
£
21,108
4,979
26,087
12,842
5,331
18,173
7,914
8,267		 Total
£
8,471,955
30,507
8,502,460
623,707
218,964
842,671
7,659,789
7,848,248

Included within the net book value of land and buildings above is £Nil (2021: £Nil) in respect of freehold land and buildings and £7,645,640 (2021: £7,826,900) in respect of leaseholds.

Land and buildings have been valued by Andrew Forbes Chartered Surveyors during 2019 on an open market basis in accordance with guidelines issued by the Royal Institute of Chartered Surveyors. The trustees do not believe that there is any significant change in this valuation as at the 31 December 2022.

15 Fixed asset investment

Charity 2022 2021
Cost as at the 31 December £1 £1
Details of the 's subsidiaries at 31 December 2022 are as follows:
Name of undertaking Registered Nature of business Class of % Held
ofce shares held **Direct ** Indirect
Lockleaze Sports Centre Ltd England and Operates the Sports Centre on
Ordinary		 100.00
Wales behalf of the charity

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

16
Stocks
Group
2022
£
Finished goods and goods for resale
5,285
17
Debtors
Group
2022
Amounts falling due within one year:
£
Trade debtors
35,298
Amounts owed by subsidiary undertakings
-
Prepayments and accrued income
12,305
47,603
18
Creditors: amounts falling due within one year
Group
2022
£
Bank loans
Note 20
5,882
Other taxaton and social security
15,366
Trade creditors
140,018
Other creditors
1,879
Accruals and deferred income
28,907
192,052
19
Creditors: amounts falling due afer more than one year
Group
2022
£
Bank loans
Note 20
38,935		 Group
2022
£
6,974
Group
2021
£
42,255
-
29,879
72,134
Group
2021
£
5,882
11,655
158,037
671
28,548
204,793
Group
2021
£
44,304		 Charity
2022
£
-
Charity
2022
£
-
61,582
1,586
63,168
Charity
2022
£
-
-
124,441
3,561
128,002
Charity
2022
£
-		 Charity
2021
£
-
Charity
2021
£
-
1,171
13,109
14,280
Charity
2021
£
-
-
124,441
-
5,761
130,202
Charity
2021
£
-

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

20
Loans and overdrafs
Bank loans
Payable within one year
Payable afer one year		 Group
2022
£
44,817
5,882
38,935		 Group
2021
£
50,186
5,882
44,304		 Charity
2022
£
-		 Charity
2021
£

Bank loans include £50,000 advanced in 2020 under the UK Government CBILS Loan scheme. The loan is for a 120 month period with an annual interest of 2.5%.

21 Retirement benefit schemes

Defined contribution schemes

The trading entity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the entity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £3,132 (2021 - £1,883).

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

22 Funds Group

Unrestricted funds

1
Designated
General
Total funds
Charity
1
Unrestricted funds
Designated
General
Total funds		 Balance at
January 2022
£
7,380,288
715,016
8,095,304
Balance at
January 2022
£
7,380,288
651,348
8,031,636		 Incoming
resources
£
-
673,876
673,876
Incoming
resources
£
-
65,756
65,756		 Resources
expended
Balance at
31 December 2022
£
£
(205,124)
7,175,164
(686,448)
702,444
(891,572)
7,877,608
Resources
expended
Balance at
31 December 2022
£
£
(205,124)
7,175,164
(21,547)
695,557
226,671
7,870,721		 Resources
expended
Balance at
31 December 2022
£
£
(205,124)
7,175,164
(686,448)
702,444
(891,572)
7,877,608
Resources
expended
Balance at
31 December 2022
£
£
(205,124)
7,175,164
(21,547)
695,557
226,671
7,870,721
7,870,721

Designated funds represent the donated asset from the Lockleaze Grounds Trust namely the land and buildings at Bonnington Walk, Lockleaze.

23 Analysis of net assets between funds

Unrestricted
funds -
General
Unrestricted
funds -
Designated
2022
2022
£
£
Fund balances at 31 December 2022 are
represented by:
Tangible assets
484,627
7,175,164
Current assets/(liabilites)
256,752
-
Long term liabilites
(38,935)
-
702,444
7,175,164		 Total
2022
£
7,659,791
256,752
(38,935)
7,877,608		 Total
2021
£
7,848,248
291,360
(44,304)
8,095,304

Included in 2021 are Designated Tangible Fixed Assets of £7,380,288.

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

24 Related party transactions

Group

As disclosed in the financial review in 2019 the Lockleaze Ground Trust donated the Land and Building at Bonnington Walk, Lockleaze to the charity, Mr N A Mitchell is a trustee of this charity and the Lockleaze Ground Trust.

Trustee, Mr A Isaac is Head of Sport at UWE who are a major user of the facility with income of £45,066 (2021: £33,560) during the year. As at the year end UWE owed the trading subsidiary £3,710 (2021: £3,500).

Trustee, Mr A Tutton is CEO of Bristol Rovers Community Trust who are a major user of the facility with income of £51,947 (2021: £38,298) during the year. As at the year end of Bristol Rovers Community Trust owed the trading subsidiary £4,717 (2021: £4,203)

There were no other related party transactions in the year that are required to be disclosed.

The charity is exempt from disclosing transactions with its subsidiary under provisions of FRS 102, as the subsidiary is 100% controlled by the charity.

25 Cash generated from operatons 2022 2021
£ £
Defcit for the year (217,696) (122,425)
Adjustments for:
Investment income recognised in statement of fnancial actvites (643) (28)
Depreciaton and impairment of tangible fxed assets 218,964 224,641
Movements in working capital:
Decrease/(increase) in stocks 1,689 (6,974)
Decrease/(increase) in debtors 24,531 (72,134)
(Decrease)/increase in creditors (12,741) 198,911
Cash generated from operatons 14,104 221,991

LOCKLEAZE SPORTS CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

26
Analysis of changes in net funds
At 1 January 2022
£
Cash at bank and in hand
417,045
Loans falling due within one year
(5,882)
Loans falling due afer more than one year
(44,304)
366,859		 Cash fows
At 31 December
2022
£
£
(21,129)
395,916
-
(5,882)
5,369
(38,935)
(15,760)
351,099