Charity Registration No. 1164829 Company Registration No. 08824435 IEn8land and Wales) LOCKLEAZE SPORTS CENTRE TRusr ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BUSINESS ADVISORS S A¢COUNTAMTS Premier House 127 Duckmoor Road Ashton Gate 8ristol En8land 8S3 2BJ LOCKLEAZE SPORTS CENTRE TRUST Col￿ENTs Pa Company information Trustees. Report Independent auditor's report 8-12 Consolidated Statement of financial activities 13 Consolidated Balance sheet 14 Charity 8alance 5htet 16 Consolidated Statement of cash flows 16 Notes to the financial statements 17-34 LOCKLEAZE SPORTS CENTRE TRusr LEGAL AND ADMINISTAATIVE INFORMATION Trustees A M Siddorn JSDTyler W J Marshall M D Innes A J Tutton Alex Isaac TJKin8 (Appointed 17 May 20231 Chalrman N A Miichell Senlor ManaiementlLeadershlp Team A Wright. Chief Exetun"ve Charlty number 1164829 Company numb•r 08824435 Pdnclpal Offl¢¢ Bonnin8ton Walk Locklea BS7 9XY Re8lstered offlce Boftnington Walk Lockleaze Bristol 8S7 9XY Audltor TC Group Premier House 127 Duckmoor Road Ashton Gate 8ristol England 853 28J LOCKLEAZE SPORTS CENTRE TRusr TRUSTEES. REPORTIINCLUDING DIREcfoRS' REPORn FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are directors loi the purpose of company law. present the annual report together with the linancial statements of the tharitable company lof the year ended 31 December 2023. The financial statements, have been prepared in accordante with the actounting policies to the linancial sraiements and comply with the charitable company'5 Trust Deed. Ihe Companies Act 2CX)6 and "Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charitres preparing their accounts in accordance with the Financial Reportirtg Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective frorn I january 20191 Oblectlves and actlvltlès The Lockleaze Sport5 Centre Trust. a non-prolii making organisats"on. was set up in 2013. The objects ol the Charity are.. l. to promote social Inclusion by preventfng people Irom becoming socially excluded, relievin8 the needs ol those people who are 50¢i¥lly excluded and assisting them to integrate into society.. and 2. to promote the health of the tommunity through participation in sport and other physi¢al actlvides for the public benelit ol the inhabitants of Brtstol and the surroundin8 area by the provision of sports, Idsure and recreatronal la¢ilityes. For this purpose of the Arricles, socially excluded shall mean th05e who are excluded from soclety or part ol society as a result of being part ol an economically or social deprived 8royp. The Trust manages a new Sports Facility, built by 8ristol City Council & the Lo¢klea2e Ground Trust (Charity No.. 3016941 during 2018 on land owned by the Council & the Locklea* Ground Trust, The Trust has 125 year leases from the two land owners. whi¢h 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 frusi managed the Facility on behalf of Bristol City Council. The Faclllty is on some 20 acres of land in the Lo¢kleazÈ area. part of which Is in Bfistol City and part in South Gloucestershife. The Facility consists of two all-weather pitches. one for rugby and the other for football, further 4 grass pirches, a Multi Use Games Area Iwhi¢h became operatlonal in 20201. and a two storq buildin8 with changin8 facilities and social areas. The day io day managemenr and operaty'on of the Facility is tarried out on behalf of the Twst by Lockleaze Sports Centre Ltd ILSC Ltd), a tradiTh8 subsidiary of the Trust. LOCKLEAZE SPORTS CENTRE TRUST TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) ICONnNUEDI FOR fHE YEAR ENDED 31 DECEMBER 2023 Objectives, strotsgies #nd #crfvltles The Facility has a number ol sporting Clubs. both rugby and football a5 regular users. In additr.on the University of the West ol England is a major user for their mid-week sporbn8 artivities. 8ristol Rovers Community Trust 8CRT la charity, which is not connected to the Football Clubl, is a major user for their community programmes aimed at addressin8 social deprivation in the Lockleaze and surrounding area5. The Facility is ihe headquarters of the 8ristol & District Rugby Football Combination and the Ru8by Football Union, Bristol Schools Union. the Bristol Referees, Society. Bristol Bears. 8fistol Rovers Accademy and many othèr organisations use the Facility lor matches, trainin8 sessions both player & coachin8 and meetin8s etc. Durin8 2023. in partnership with the University of the Wesi of England. an all-weather hockey pitch was installed at the Facility, enhancing the ran8e of 5portin8 activities rtow available to the wider community. The Facility is now accepted as Paft of the local scene, with ihe tatering and baf facilities providing a welcorne servite to both players and spectators alike and overall. the finantial targets were achieved. Publlc benefit In seth"n8 objectrves and plannin8 for artivities. the Trustees have given due consideration to general guidance published by rhe Charity Commission relatin8 to public benefit. including the guidance 'Public beneft.. runnin8 a charlty IPB21'. Ourlng 2023, the Tru5tee5 have pursued the plans. outlined above to operate the factlitses at Lo¢kleaze for the public benefit. The following is a brief list of specific activities carried out by the Trust dufing 2023 for public benefit.. BRCT Fun Days & Disability and 'KICKS' programme. Bristol Bears 'HITZ' programme Premiership Ru8by's flagship edutatlon and employability pro8r¥mme, Supporting young people io make positive chan8es in their life. Bristol 8ears Community Charity Days. Walkin8 Ru8by Sessions. Charity Rugby Matches & Tournaments Football Club Chaiity 0￿, Tournaments and Football Camps. Local Schools Sports Oays. NHS Function5 for pabents and staff. 8CC'Warm & Welcome Space'.-through Autumnlwinter.. Secret Soup Society- free kitchen access throu8h winter Rooms for Events run by local Ofganisations. Slimmin8 World- ses5i0ns in lunction. Hosting free community hockey se$5ions in partnetship with Redland Ladies Hockey Club Aid Box - Access to free football se5si9ns for refugees ènd asylum seekers in addition to classror Jnd on behalf of TC Group Statutory Audltor Office.. 8flstol 24 September 2024 12- LOCKLEAZE SPORTS CETr￿RE TRusr CONSOLIDATED sfATEMEKf OF FINANCIALAcnvmES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestritted fvnds funds general deslgnated 2023 2023 Restrlcted funds Total lurtds Total funds 2023 2023 2022 Notes wm Otsnatrons and legacies Charitable activitres Other tradin8 activities Investments Other income 17.333 393,921 358.953 6,950 143.889 1.377.951 1,395,284 393,921 358,953 6,950 143,889 321,342 342,320 643 9,571 Tolal Income 921.046 1.377,951 2,298,997 673,876 Raising funds 170,460 170.460 171,391 Charitable activittes 591.265 227.816 819,081 720,181 Total resource5 expendèd 761.725 227,816 989.541 891,572 Net Incomellempendlturel for the yearl Net mov•m•nt In funds 159,321 1227,8161 1,377.951 1,309.456 1217,6961 Fund balan£es at l January 2023 702,444 7,175,164 7,877.608 8,095,304 Fund balances at 31 December 2023 861,765 6,947.348 1,377,951 9,187.064 7,877,608 The consolidated statement ol Nnancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of linancial activities also cornplies with ihe requirernents for an income and expenditure account under the Companies Act 2006. 13- LOCKLEAZE SPORTS CENTRE TRUST CONSOLIDATEO BALANCE SHEET A5 AT31 DECEMBER Z023 2023 2022 Notes Flxed assets Tangible 3S5et5 Current assets Stocks Debtors Cash at bank and in hand 13 9,034,576 7,6S9.791 16 17 7.107 S7.641 372.779 5.285 47,603 395.916 437,527 448.804 Credltors.. amounts falllng due ￿￿thIn one year 18 1251,7241 1192.0521 Net ¢urreni assets 185,803 256,752 Total assets lèss current Ilabllltles 9,220.379 7.916,543 Credltors,. amounts fallln8 due after more than onq year 19 133.3151 138,9351 Net assèts 9,187,064 7.877,608 Unrestrlcted Incorne funds Restflcted funds Unrestricted lund5 1,377.951 7,809,113 7,877.608 Total lunds 9.187.064 7.877.608 These fi'nancial statements have been prepared in accordance with the provisions applicable to companie5 subsect to the small companies regime. The financial statements were approved by the Trustees on 24 September 2024 D Innes Trustee Company Re8lStratlon No. 08824435 14- LOCKLV4ZE SPORT5 CENTRE TRUST CHARITY BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets Investments 14 9.034.S76 7.659.791 9,034,577 7,659.792 Current assets Debtors Cash at bank and in hand 17 4.052 309.897 63.168 275.763 313,949 338,931 Credltors: amounts falllng due wlthln one year 1175.3311 1128.0021 Net curren¢ assets 138,618 210,929 Total assèis1o5s current Ilabllltle5 9,173,195 7,870,721 Ilncome lunds Restricted funds Unrestricted lund5 1,377,951 7.79S.244 7.870.721 9,173,195 7,870,721 These financial statements have been prepared in accordance with thè Provisions applicable to companies subject to the small companies regime. The linancial statements were approved by the Trustee5 on 24 Septembei 2024 D Innes Trustee Company Registratlon No. 08824435 15- LOCKLEAZE SPORTS CENTRE TRvsr CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 DECEMBER 2023 2023 2022 Notes Cash flows from operatSng actfjvltl•s Cash generated from operations 26 1,586,132 14,104 InvtstFng acttvltles Purchase ol tangible fixed a5set5 Interest received 11.610.599> 6,950 130.5071 643 Net cash used In Investln6 actlvltles 11,603.6491 129,8641 Flnancln8 actl¥lfje5 Repayment ol bank loans 15.6201 15,3691 Net cash used In flnancln6 actfjvltl•s 15,6201 15,3691 N•t d•crease In ¢a5h and ¢ash equl¥alents 123,1371 121,1291 Cash and cash equivalents at be8innin8 of year 395,916 417,045 Cash and cash equlvalenls at end of ￿ar 372.779 395,916 16- LOCXLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies Charity status The charity is limited by Share capital. rncorpofated in England and Wale5. The address ol its re815tered office Is= 8onnington Walk Lockleaze 8ristol 8S7 9XY 1.1 Accountlng tofiventlon Lockleaze Sports Centre Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially retognised ai histoiical cost of transaction value unless otherwise stated in the relevant accountin8 policy notes. Summary of slgnlfltant actountlng poll¢l•s and key accountln8 est5mates The principal accounring policies applied in the preparation of these fi.nancial statements are set out belcw. These poli¢ies have been consistently applied to all the year5 presented. unless otherwise stated. The flnancial statements are prepared in sterlin& which is the functional currency of the ¢haritable group Monetary amount5 in these linan¢ial stsiements are rounded to the nearest £. 17- LOCKLEAZE SPORT5 CENTRE TRusr NOTE5 TO THE FINANCIAL sfATEMEPrn ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accountln¥ policiès {Contlnuedl Statement ol compliance The consolidated linancial statements have been prepared in accordante with Accounts"n8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Fillancial Repothng Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffecknve l January 20191- (Charines SOAP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2CX)6 and Charities Act 2011. Basls of consolldatton The consolidated financial statements consolidate the financial statements of the charity and it5 subsidiary undertakings drawn up to 31 December 2022. No statement ol financial aitivities 15 presented for the charity a5 permitted by See￿0￿ 408 01 the Companies Act 2006. The charity made a profit after tax of for the linancial yeai of £1,302,47712022 - Ioss 01 £165,890) A subsidiary is an entity controlled by the charity. Control is achieved where the charlty has the power to 80vern the frnan¢ial and operattng policies ol an ents.ty so as to obtain beneh'ts from Its attivities. The results of subsidiaries acquired or disposed of durin8 the year are included in the statement of linancial a£￿VIC1e5 from the effective date of acquisitson or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the linancial ststements of subsidiaries to bring their accountin8 polices inro line with those used by the group. The purchase method of accountin8 is used to account for business combinations that result in the acquisition o15ubsidiaries by the group. The cost of a business ¢ombination is measured as the fail value of the assets given, equity instruments issued and liabilities incurred or a$5umed at the date of exchange. plus costs directly attributable to the business combination. Identiliable assets acquiied and liabilities and contingent liabilities assumed in • busine￿ ¢ombinatfon ère measured initially at their fair values at the acquisition date. Any excess ol the cost of thè business combination over the acquirer's interest in the nèt fair value ol the identyliable assets. liabilitre$ and eonD"ngent liabilities re¢ognised is recorded as goodwill. Inter-company transaction5, balances and unreali5ed gains on iransartfons between the eharity and its subsidiaries, which are related partie5, are eliminated tn lull. Intra-group losse5 are also eliminated but may indicate an impairment that requires recognition in the consolidated linancial statements. 1.2 Goin8 concern The fi.nancial statements have been prepared on a 80in8 concern ba51S. The operation committee have built piudent forecastin8 models until the end of 2025 to demonstrate the charity's sustainability. The trustees make this assessment in respert of a period ol one year from the date of approval of the linancial statements. 18- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS IcoKllNUEDI FOR ThE YEAR ENDED 31 DECEMBER Z023 Accounting policie5 Icontlnuedl 1.3 Incomlng rèsources All income is recognised once the group has entitlement io the income, it is probable that the income will be received and the amount of income receivable can be reliably measured. Grants receivablè Grants are recognised when the 8roup has an entitlement to the funds and any conditions linked to the 8rants have been met. Where performance conditions ale attached to the 8rant and are yet to be met, the income is recogr)Ised as a liability and included on the balance sheet as deferred income to be released. Inveslment Income Dividends are recognised once the dividend has been declared and notiH¢ation has been received tsf the dividend due. 1.4 Resources expended Expenditure All expenditure is reco8nised Once there is a legal or constructs've obligatjon to that expenditure. It Is probable that settlement Is required and the amount can be measured reliably. All costs are 8lltscated io the applicable expenditure heading that aggregate similar costs to that tategory. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use ol rexsurces, with central staff costs allotated on ihe basis of bme spent, and depreciation char8es allocated on the portion ol the asset's use. Other support costs are allocated based on the spread ol staff costs. All resources e¥pended are exclvsive of irrecoverable VAT. Raisln8 funds These are costs in¢urred in attractlng voluntary income, the management of investrnen¢s and those iicurred In trading activityes thai raise funds. Support costs Support costs include ¢entral funrtions and have been allo¢ated to activity cost categories on a basis consistent with the use of resoufces. lor example, allocating property costs by floor area, or pef opita, stsff costs by the trme spent and other tosis by their usage. Governance costs These include the costs attribvtable to the charity's compliance with constitutional and statutory requiremenrs, includin8 audit, strategit management and trustees, mèetings and reimbufsed expenses. Government grants Government grants are reco8nised at the fair value of the asset received or receivable when there is a reasonable assurance that the 8rant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditk)ns are met. Where 8 grant does not specify performance conditions it is recognised in income when the prOC￿d$ are received or receivable. A grant received before ihe recognition criteria are satisfi.ed is recogrised as a 19- LOCKLEAZE SPORTS CENTRE TRU NOTES TO THE FINANCIAL STATEMENTS ICONTINUÉOI FOR ThE YEAR ENDED 31 DECEMBER2023 Accountin8 policie5 Iconttnuedl 1.5 Tanglble fixed assets Tangible fixed assets are inill.ally measured at cost and subsequently measured at cost or Val￿tion, net ol depreciadon and any impairment losses. The tost ol tangible assets includes directly attributable incremental costs in¢urred in their acquisition and installation. Depreciats'on is reco8nised $0 as to write off the cost or valuation of assets less their residual values over their useful live5 on the fgllowing bases-. Lèasèhold land and buildings Plant and equipment Fixtures and fitkn.ngs Between 30 and 125 years 15-25% siraight line basis 15-25% straight line basis The gain or loss arisin8 on the di5PQ5al of an assei is deiermined as the difference between the sale proceeds and the carryin8 value ol the asset. and is recognised in net incomellexpenditurel for the year. 1.6 Flxed asset Imièstments Investment in subsidiary en￿tIeS are held ai cost less impaifment. 1.7 Stocks Stocks are stated at the lower of ¢ost and eS￿mated selling price less costs to complete and sell, after due regard lor obsolete and slow moving stocks. Cost is determined using the first-in, first-out IFIFOI method. Net realisable valve is the estimated sellin8 price less all estimated costs of completton and costs to be inturred in marketin8. selling and distribution. 1.8 Cash and cash equlvalents Cash and tash equivalents include cash in hand, deposits held at call with banks, other shor&term liquid investments with original marurities of three months or less. and bank overdraft5. Bank overdrafts are shown WIth￿n borrowings in current liabilities. 1.9 Flnanclal Instrnmènts The charitabke company has elected to apply ihe provisions ol Section 11 '8asic Financial Instrumwts. and Section 12 '0ther Financial Instruments Issues. of FRS 102 w all of its h"nancial instrurnents. Financial instrurnents are recognised in the balance sheet when the charitsble company becomes party to the contractual provisions ol the insLrument. Financial asset5 and liabilitse5 are offset. with ihe net amounis presented in the financial statement5. 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 355et and settle ihe liability simultaneously. LOCKLEAZE SPORTS CENTRE TRUST NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2023 Accounting pollctes Icontfjnuedl Boslcfinonci¢71 a55ets Basic fiAancial assets, which include debiots and cash and bank balances, are inits'ally measured transactr.on price including transaction costs and are subsequently carried at amorti5ed cost using the effective interest method unless the arrangemeni tonstitutes a h"nancin8 transactr'on, where the trangattion is measured at the present value of the future receipts discounted at a market rate of interest. FiFEncial assets clas5ilied as receivable within one year are not amortised. 8asi(financiol liubillrfes Basic financial liabilities, including creditors and bank loans are initially reco8nised at transactlon price unless the arrangement constitutes a hnancing transactron, where the debt instrument is measured at the present value of thè future payments discounted at a market rate of interest. Finan¢ial li3￿"11￿eS classilied as payable within ane yèar are not amortised. Debt instruments are subsequently carried at amorhsed cost, U5in8 the effertive interesi late method. Trade creditors are obligations to pay for goods or services that have been acquiied in the ordinary course of operatlons from suppliers. Arnounts payable are cla5silied as ¢urrent liabill￿eS il payment is due within one vear or less. Il not. they are presented as non-current li4bililies. Trade cieditofs are recognised initially at transaction prlce and subsequently measured at amorttsed cost usin8 the effective interest method. Derecognlllon oAllnonclul Iloblllrfes Flnancial liabilities are dere¢o8nised when ihe charitable company's contractual obligahons expire or are discharged or cancelled. 1.10 Retlrement benefits A detined contribution plan is a pension plan ynder whith hxed contributions are paid into a penyon fund and the company has no legal or constructive obligation to pay further contributions even if the lur(I does noi hold sufficient assets to pay all ernployees ihe bertefits relan.ng to employee service in the cuffent and prior periods. Coniributions to dehned contribution plan5 are recognised as employee beneflt expense when they are due. If contributlon payments exceed the contribution due for servi¢e, the exte55 IS fecognised as a prepayment. 21 LOCKIEAZE SPORTS CENTRE TRusr NOTES TO THE FINANCIAL sfATEMENTS ICONnNVEDI FOR THE YEAR ENDED 31 DECEM8ER 2023 Accountin¥ policies Icontlnuedl 1.11 Fund structure Unrestricted income funds are general lund5 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 speciftc Furposes. The designated fund for fixed a55etS 15 part ol the unrestricted funds that represent fixed asset5 used in the day to day operations of the charity. Crlfjcal accountlng esdmates and judgements The group makes estimate5 and assumptions eontefnin8 the lulure. The resultr"n8 aciountin8 estimates will by dehnition, seldom equal to the related actual festslts. The ests'mates and assumptrons that have a significant risk of causing material adjustment io ihe carrying amounts of assets and liabilities within the next year are oddressed below. 11 Useful economi¢ lives of tangible assets The annual depreciatton charge lor tangible assets is sensitive to chan8e5 In the estimate useful economSc lives and rèsidual values ol the assets. The useful economic live5 and residual values are re-assessed annually. They are amended when necessary to reflect Current esfjmate based on technological advancement. future investments, economic utr'lisation and the physical tondition of the assets, see note 13 & 14 lor the carryin8 amount of each cla55 of asset held. and above for the useltsl economic li*s for each class of assets. 111 Impalrment of debtofs The group makes estimate5 Of the recoverable value of debtors. When assessin8 the impa1rme￿t ol debtors, management consider factors including the curreni credit ratin8 ol the debtor. the ageing prohle ol debtors and historic experience. See note 17 for the net carrying amount of debtors and associated impairmènt piovision. Donatlons and leza¢les Unrestrfcted Restrfcted funds funds 8eneral 2023 Total Total funds 2023 2023 2022 Grants Irorn organisations 17,333 1,377,951 1,395.284 For the year ended 31 December 2022 The designated grant relates to an unrestricted capital grant received from UWE for £1,381,551. No grants were received by the charity In 2022. LOCKLEAZE SPORT5 CENTRE TRusr NOTE5 TO THE FINANCIAL sfATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Charltable actlvltles Unrestrl¢ted fund general 20Z3 Vnre5trirted fund neral 2022 Sporring aedVI￿es 393.921 321,342 Other tradlng actl¥ltle5 Unrestrlrted Unrestrlcted lunds funds 8eneral neral 2023 2022 Trading income.. Sales ol goods and servlces 358,953 342,320 Investments Vnre5trlcted Unrestrlcted funds fund5 neral gentral 2022 2023 Interest receivable 6,950 643 LOCKLEAZE SPORTS CENTRE TRusr NOTES TO THE FINANCIAL STATEMENTS IC014TINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2023 Other income Unrestrirted Unrestrlcted fund5 fund5 8•nèral 8enernl 2023 2022 Other income 143,889 9.571 Other income includes a one off amount of £116.00012022.. Enill related to the easement for right ol ac¢ess. Ralging funds Unrèstrfctèd Unfestrlcted funds funds neral general 1023 2022 Costs 018oods sold 170,299 171,391 161 170,460 171.391 24- LOCKLEAZE SPORTS CENTRE TRusr NOTE5 TO THE FINANCIAL STATEMENTS {COl￿INuED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activities Unrestricted Unrèstrlttèd funds funds 2023 2022 Depreciation and impairment Sundry expenditure 235.814 218,964 235,813 218,964 Share of support costs (see note 101 Share cl 8overnan¢e ¢osts (see note 101 57S.843 7,425 489,242 11,975 819,081 720.181 Analysls by fund Unrestricted lund5- general Unrestricted lunds. designated 591.265 227,816 515,057 205.124 819.081 720.181 LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS IcoMfiNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 10 Support costs Support Go¥ernan¢e costs costs 2023 2022 Staff costs Office costs General insurance Staff trainlng Premise5 COSt5 Telephone, software and subscriptions Advertising and sundry expense Travel Finance charges Bad debts written off Legal. consultancy and accountancy Irrecoverable VAT 264.780 2.828 12.928 264,780 2.828 12,928 4.004 181,477 17,527 9,500 366 225,028 555 174,534 20,225 9,537 217 20,035 1,300 37,811 181,477 17.527 9,SLX) 366 4,439 4,439 58.127 19,867 58,127 19,867 Audit lees 7,425 7,425 11,975 575.843 7,425 583.268 501,217 Analysed between Charitable activittes 575,843 7,425 583,268 501,217 Governance costs includes payments to ihè auditors of £7.42512022. £11.9751 for audit fees. Durin8 the year the trustees have made the decision to reallocate expenditure across categories to better reflect the nature ol the trartsattlon. LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMETrif5 ICOP￿INuED) FOR THE YEAR ENDED 31 OECEMBER 2023 11 Employees Number of èmployees The average monthly number of employees durin8 the year was.. 2023 Number 2022 Number Core staff Food & bevera8e 5tsff 19 18 23 22 Employment costs Z023 2022 Wage5 and salaries Social security costs Other pènsion costs 247,155 13,525 4,100 211,285 10,611 3,132 264,780 225,028 The above staff numbers equates to 1112022.. 101 full tsrne equivalents. Contributions to the employee pension schemes for the year ttstalled É4.ICQ12022.. £3.1321. 412022.. 41 of the above employees participated in the Defined Coniribufjon Pension Schemes. No Trustee or other person related to the charity had any personal interest in any contraci oi transaction entered into by the ¢harily12022.. £Nill. There were no employees whose annual remuneralion was £60.COJ or more. 12 Taxztlon The parent entity is a re8lStered charity and is therefofe Èxempt ffom taxation in respect of income and Capital gains received with s478489 of the Corporation Taxes Att 2010 and s256 of the taxation ol the Chargeable Gains Act 1992. to rhe extent that these are applied to ils charitable objects purpose only. The trading subsidiary is loss making and hence no amounts thargeable to corporation tax In the current year in respect of trading income. However. a tax charge of £161 ha5 arose this year in respett of investment income. 27- LOCKLEAZE spoKrs CENTRE TRusr NOTES TO THE FINANCIAL sfAYEMENTS ICONnNVEDI FOR THE YEAR ENDED310ECEM8ER 2023 13 Tangible fixed assets Group Loaiehdd and buildln p￿￿t and FIkI￿re5 and Total Cost At l January 2023 Additions 8.405.370 1.604.052 71,[￿}3 6,548 26.088 8,502,461 1,610,600 At 31 Detember 2023 10,CQ9,422 77,551 26,088 10,113,061 Deprèclatlon and ImpaSm?ent At I january 2Q123 Depreciation charged in the year 759.730 227,816 64.768 3.573 18.173 4,425 842,671 235.814 At 31 December 2023 987,546 68.341 22.598 1,078,485 Carrylni amount At 31 Oecember 2023 9,021,876 9.210 3,490 9.034.S76 At 31 December 2022 7.645,641 6.236 7,914 7,659.791 Included within the net book value of land and buildings above is £Nil12022'. £Nill in respect of freehold land and buildings and £9.021.87612022.. £7,645,641) in respect of leaseholds. 14 TanKlblè ￿xed assets Charlty Leasehold IèAd and bjlldlnp Plint and Total Cost At l January 2023 Addition5 8,381,506 1.604.052 71,CK13 6,$48 26,088 8,502.461 30,507 At 31 December 2023 10.009.422 77,551 26.088 8.502,460 Amortfjsatlon and Impalrnient At l January 2023 Depreciation charge for ihe year 554,606 205.124 56,259 8.S09 12.842 S.331 623.707 218,964 At l January 2023 and 31 December 2023 759.730 64.768 18.173 842.671 Carrylng amount At 31 Decernber 2023 9,021.876 9,210 3,490 7,659,789 At 31 December 2022 7,645,641 6,236 7,914 7.848,248 -28- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL sfAfEMENTS ICONTINUEDI FOR THE YEAR EhlDED 31 DECEM8ER 2023 14 Tanglble fixed a55ets Icontlnuedl Included within the net book value ol land and buildings above is £Nil12022-. ENill in iespect of freehold land nd buildin8s and £9,021,87612022'. £7.64S.6411 in respect of leaseholds. Land and buildings have been valued by Andrew Forbes Chartered SuTheyors during 2019 on an open markèt basis in accordance with guidelines issued by the Royal Institute ol Chaitered Surveyors. The trust￿5 do not believe that there is any significant chan8e in this valuatfjon as at ihe 310ecember 2023. 15 Fixed asset Investment Charlty C05t as at the 31 December 2023 Éi 2022 £1 Details of the's subsidiarie$ ai 31 December 2023 are as follows- Name of undertaking R•ilstered offl¢¢ Nature of buslness aass of Shares held % Held DlrÈrt Indlrect Lockleaze Sports Centre Ltd England and Wales Operates the Sports Centre on Ordinary behalf ol the charitv 100.00 16 Stocks Group 2023 Group 2022 Charltv 2023 Charlty Z022 Finished 8ood5 and goods lor resale 7,107 5,285 17 Debiors Group 2023 Group 2022 Charltv 2023 Charlty 2022 Amounts f311ini due wlthln one year: Trade debtors Amounts owed by subsidiary undertakin8S Prepayment5 and accrued income 41,134 35,298 4,OS2 1,586 61,582 16.507 12,305 S7.641 47,603 4,052 63,168 LOCKLEAZE SPORTS CENTRE TRU NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 18 Credltors.. amounts falllng due within one year Group Z023 Group 2022 Ch3ritv 2023 Charity 2022 Bank loans Corporatron tax payable Other taxation and social 5e¢uritv Trade creditors Amounts owed to subsidiary undertakings Other creditors Accruals and deferred in¢ome Note 20 5.882 161 29.789 197,052 5.882 15.366 140,018 159.IJ06 10,164 124,441 1.134 17.706 1,879 28,907 6,161 3,561 2SI,724 192,052 175,331 128,002 19 Credltors; amounts falllng due after mort than ont year Group 2023 Group 2022 Charfty 2023 Charlty 2022 Bank loans Note 20 33.315 38.93S 20 Loans and overdrnfts Group 2023 Group 2022 Charltv 2023 Charlty 2022 Bank loans 39,197 44,817 Payable within one year Payable after one year S.882 33,315 S.882 38,935 Bank loans include £50,000 advanced in 2020 under the UK Government C81LS Loan scheme. The loan is for a 120 month period with an annual interest of 2.5%. 21 Retirement benefit sthèmes Defined contribution sthemès The tradin8 entity operates a defined contribution pension scheme for all qualifying employees. The assets of rhe scheme afe held separately from those of the entity in an independently administered fund. The charge to prolit or loss in respect ol defined contribution schemes was £4.10012022- £3.1321. LOCKLEAZE SPORTS CENTRE TRU NOTES TO THE FINANCIAL ￿ATEmEP¥rS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER2023 22 Fund5 Group 81￿￿￿e￿I I january 1023 Tr•hsl•r£ 8alance at JI December 2013 Unre5trfcted funds Designated - hxed assets Oesi8nated sinking lund General Restricted funds ockey Pitch 7.175.164 1227,8161 6,947.348 130,000 731.765 130,C4)0 1761,7251 I130,C￿l 702.444 921,046 1.377,951 1,377,951 Total funds 7.877,608 2,298,997 1989.5411 9,187,064 Charlty Ific￿rI Re50urce5 I 1•h￿rY IOIJ 31 DI¢•m￿r 2013 Unrestrlcted lunds Designated fixed assets Designated sinking fund General 7,175,164 1227.8161 6,947,348 130,000 717,896 130,WO 146.1061 1130,IY)01 695,557 198,445 Restrlrted funds Hockey Pitch 1,377,951 1,377,951 Total funds 7.870,721 1,576,396 273,922 9,173.195 Designated funds represent the donated a$5et from the Lockleaze Grounds Trust namely the land and buildin85 at 8onnington Wall Lockleaze. Dufill8 the year the irustees have made the decision to de5i8nate £130.Cth to a -rin8 fenced- sinking fund to accumulate funds for future replacement of the pitrh surfa¢es. Restricted funds ¥epre5ent the donation from University ol West of England IUWEI to support the building ol the hockey pitch. The reStrI￿10n remains in place over the period of the lease which UWE holds over the pitch. 31 LOCKLEAIE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS IcoNfiNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Funds Group Unrestricted funds In¢tynin8 Aesourtes *wd•d Trnnsle Balance at 31 DKember 1012 De5ignJted fixed assets Designated sinking lund General Hockey Pitch 7.380,288 1205,1241 7,175,164 130,000 572,444 1,377,951 I30,￿0 1686,4481 1130,0001 715.016 673,876 1.377.951 Total funds 8.095.304 2,298,997 1891,5721 9,255,559 Charlty R•50urc f• J4ntsary 2012 311)EcembEr toil Unr¢strlcted funds Designated General 7,380.288 651,348 1205.1241 121,5471 7,175,164 695.S57 65,756 rotal funds 8,031,636 65,756 1226,6711 7,870.721 Designated funds represent the donated asset from the Lockleaze Grounds Tiust namely the land and buildings at Bonnin8ton Walk. Locklea￿. Durin8 the year the trustees have made the decision to designate £130,OC¥) to a "ring fenced" 5inkin8 fund to aciumulate funds lor future rèplacement of the pitch surfaces. Restricted funds represent the donatfon from University of West of England IUWEI to support the building of the hockey pitch. The restriction remains in place over the period of the lease which UWE holds over the pitch. 32- LOCKLEAZE SPORTS CENTrE TRU NOTES TO THE FINANCIAL STATEME￿$ ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of net assets between funds Unrestri¢ted Unrestricted funds- funds- General Designated 1023 2023 Total Total 2023 2023 2022 Fund balances at 31 December 2023 are represented by.. Tangible assets Current as5ets1lliabili￿esI Long term liabilities 705.677 8.328,899 185,803 133.31SI 9,034,576 185,803 133,3151 7,659,791 256,7S2 138,9351 858.165 8,328,899 9,187,064 7,877,608 Included in 2022 are Desi8nated Tangible Fixed Assets of £7,175,164. 25 Related party transacdons Group As disclosed sn the linan¢ial review in 2019 the Lockleaze Ground Trust donated the Land and 8uildng at Bonnington Walk, Lockleaie io the charity, Mr N A Mitchell is a trustee of this tharity and the LocHeaze Ground Trust. Trustee, Mr A 15aac is Head ol Sport ai UWE who are a major user of the facility with income of £47.575 12022.. E45,0661 dyrins the year. As at the year end UWE owed the trading subsidiary £5.65812022.' £3,710). During the year UWE has donated £1.377.951 to the charity for the purpose ol building a hockey pitch. The pitch is leased to UWE lor a peppercorn rent, however UWE covers maintenante costs. Trustee, Mr A Tutton 15 CEO of 8ristol Rovers Community Trust who are a major user of the facility with income of £58,13612022.. £51,947) during the year. As at the year end of Bristol Rovers Community Trust owed the tradin8 subsidiary É5.84212022.. £4,717) There were no other felated party transactions in the year that are required to be di%losed. The charity is exempt from disclg5ing transathons with its subsidiary under provi5i0n$ of FRS 102. as the subsidiary is controlled by the chanty. LOCKLEAZE SPORTS CEKfRE TRusr NOTES TO ThE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 26 Cash generated from opèratfons 2023 2022 Surpluslldelicitl lor the year 1.309,456 1217,6961 Adjustments for.. Investment income recognised in statement of financial artivitie5 Depreci3tion and impairmeni of tangible fi.xed assets 16.9501 235,814 16431 218,964 Movements in working capitsl.. Ilncreasel/decrease in stock5 Ilntreaselldecrease in debtors Increaselldecreasel in ¢redito 11,8221 110.0381 59,672 1,689 24.531 112,7411 Cash 8eneraied Irom operatlons 1,586,132 14,104 27 Analysls ol chan8Ès In nèt funds I laTrwry ZOZ3 Cash fflow5 At 31 D•(•rnber 2023 Cash at bank and in hand 395,916 123,1371 372,779 Loans falling due within one year Loans falling due after mole than one year 15.8821 138,9351 IS,8821 133,3151 5,620 351,099 117,5171 333,582