Charlty R•glstratSon No. 1164829 CompaDy Registration No. 08824435 (England and Wales) LOCKLEAZE SPORTS CENTRE TRusr CONSOLIDATED ANNUAL REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 20Z4 BUSINESS ADVISORS & ACCOUP4TANT5 First Floor. Premier House 127 Duckmoor Road Ashton Gate Bristol United Kingdom B53 2BJ LOCKLEAZE SPORTS CETrllRE TRUST CONTENTS Company information Trustees, report Independent auditor's report 9-13 Consolidated statement of financial activities 14 Con501idated balance sheet 15 Charity balance sheet 16 Con501idated ststement of cash flows 17 Note5 to the financial statsmentS 18-36 LOCKLEAZE SPORTS cEl￿RE TRUST LEGAL AND ADMINISTRATIVE IP4FORMATION Trustees MrA M 5iddorn MrlSDTyler Mr W J Marshall Mr M D Innes MrAJ Tvtton Mr A Isaac MrTJKinB Mr P Cheek Mr K Millwood Mr A Mitchell Mr A Wright (Appointed 17 May 20241 (Appointed 22 April 20251 (Appointed 22 April 20251 (Appointed 22 April 20251 (Appointed 22 April 20251 Chalrman Mr M D Innes Senlor Mana8ement/Leadershlp Team Mr C Capel, Chlef Executive Charlty number 1164829 Company number 08824435 Prlnclpal Offlce 8onnlnBton Walk Lockleaze Bristol BS7 9XY Re81stered office Bonnin8ton Walk Lockleaie Bristol 857 9XY Audltor TC Group First Floor, Premier House 127 Duckmoor Road Ashton Gate Bristol United KinBdom BS3 2BJ LOCKLEAZE SPORTS CENTRE TRUST TRUSTEES. REPORT (INCLUDING OIRECTORS, REPORT) FOR THE YEAR ENDE031 DECEMBER2024 The trustees, who are directors for the purpose of company law, present the annual report together with the financial 5tatÈments of the charitsble company for the year ended 31 tlecember 2024. 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 Prarticè applitable to charities preparing their accounts in accordancè with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" leffective from l January 20191 Oblectives and actlvltses The Lockleaze Sports cent￿ Trust. a non-profit making organlsation. was set up in 2013. The objects of the Charlty are.. l. to promote socSal incluslon by preventing people from becoming socially excluded, relievlng the needs of those people who are s¢xially eKluded and assistfn8 them to inte8rate Into so¢lety'. and 2. to promote the health of the communily ihrou8h partS¢bpatlon in sport and other physical activities for the public beneflt of the inhabitants of Bristol and the surToundinB area by the provislon of sports, lasure and recreational faci1Sfjes. For this purpose of the Artlcles, socSally excluded shall mean those who are excluded from society or part of soclety as a result of being part of an economically or social deprived 8roup. The Trust manages a new Sports Facility. built by Bristol City Council & the Lockleaze Ground Trust (Charity No.. 3016941 during 2018 on land owned by the Council & the Lockleaze Ground Twst, 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. Durlng 2018, the Trust managed the Facility on behalf of 8ri5tol 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 gra55 Pltches, a Multi Use Game5 Area (which became operational in 20201 , and a two storey building with changing facIll￿e$ and soclal areas. The day to day management and operation of the Faclllty is carried out on behalf of the Trust by Locklea2e Sports Centre Ltd ILSC Ltd). a tradin8 subsidiary of the Trust. LOCKLEAZE 5PORT5 CENTRE TRUST TRUSTEES, REPORT IINCWDING DIREcfoRS' REPORTI (CONTINUED) FOR THE YEAR ENDED 310ECEMBER2024 Objertive5 Stn7teqies ond artlvlrfes The Facility has a number of sportin8 Clubs, ljoth rugby and football as regular users. In addlt70n the University of the West of England is a major user for their mid-week sporting a£tiviries. Bristol Rovers Community Trust BCRT la charity. which is not connected to the Football Clubl, 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 & Oisirict Rugby Football Combination and the Rugby Football Union, Bristol Schools Union, the Bristol Referees, Society. 8ristol Bears, Bristol Rovers Accademy and many other or8anisation5 use the Facility for matches. trainin8 sessions both player & coaching and meetin85 etc. We continLte in partnershlp with the University of the West of England. an alkweather hockey pitch was Installed at the Facility, enhancing the range of 5POrting activities now available to the wider conmnunity. The Facility is now accepted as part of the local scenè. with the catering and bar fa¢ilitie5 providin8 a welcome service to both players and spectators allke and overall, the financlal tar8ets were achieved. Publlc benellt In settin8 objectives and planning for activities. thè Tru5tee5 have Biven due conslderation to general guidance published by the Charity Commission relat6n8 to public benefit. In¢ludin8 the 8uidance 'Public benefit.- runnlng a charity IP821'. Ourin8 2024, the Trustees have pursued the plans, outlined above to operate the facllltles at Lockleaze for the public beneflt. We are extremely proud that our community partners have continued to Brow as outllned In the list below.. Brlstol Rovers Community frust Fun Days, DisabS11ty pro8rammes and 'KICKS' sesslons Bristol Bears 'HITZ' proBramme Premiership Rugby's fla8ship education and employability programme, supporting youn8 people to make posidve changes in their life. 8ristol Bears Community Charity Days Walking Rugby Sessions Charity Rugby Matches & Tournaments Football Club Charlty Days. Tournaments and Football Camps Local Schools Sport5 Days & Fixtures NH5 Functions for patients and staff BCC'W3rm & Welcome Space'__throu8h Autumnlwinter Rooms for Events run by local or8anisations Slimmin8 World- sessions in functlon room H05tin8 free community hockey sessions in partnership with Redland Ladies Hockey Club Aid Box - A¢ce55 to free football sessions for refugees and asylum seekers in addition to classro(Th space to support English language lessons Providin8 a workspace for 'Ripple5'. a Bristol born mental health and wellbeing organisation free of charge or at greatly reduced rates Bristol Schools Rugby Union Fixture5 & Functions UWE Charity Fundraising Events Collaboration with Lotkleaie Neighbourhood Trust in providinB space and provlslon to support the development of a wildlife corridor LSC Ltd provides the facilithe5 either free of charge or al greatly redU￿d rates. LOCKLEAZE SPORTS CENTRE TRU5r TRusfEES' REPORT (INCLUDING DIREcfoRS' REPORn {coTr¥nNUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees confirm that they have complied with the requirements of section 17 of the Charitie5Act 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 activitles the Charity should undertake. Achievements and performance During 2024 the Charity continued to run the Facility for the benefft 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 centre for gutdoor rècreation in all aspects. Flnanclal rev5ew The results for the year shown in the Consolidated Statement of Flnancial Activities on page 14. During 2024 the tradin8 subsi(Jiary made a surplus of £38.72312023.. surplus of £2,004). The charity's subsldlary made a gSft ald payment to the charity from its profits amountlng to £nil12023.' £70,000). Overall, the consolidated result5 for the year showed a deflcit of q233,126I. This was primarily due to a non- monetary depreciation char8e of £314,920. Pollcy on reserves The trustees have examined the charity's reserve requirements in light of the main risks to the 0rdanisa￿on. It has established a policy whereby the unrestrlcted funds not committed or invested in taftgible flxed assets held by the charity should be between 3 and 6 rnonths of expenditure. 8ud8eted expenditufe for 2025 is £894,132 and therefore the tar8et Is £223,533 and £447,066 In general funds. The reserve5 are needed to meet the worklng capital requirements of the charity and the trustees are confldent that at thls level they would be able to condnue the tUr￿At actlvittes of the charlty in the event of a downturn of income. The present level of reserves available to the charitable group are £924,45512023: É861,7651 therefore falls significantly over the target level. Investment pollcy and obJectl¥es Aside from ret3ining a prudent amount in ￿serveS each year in the short term the trustee5 plan to keep all liquid funds available for land and buildlng development to further enhance the charity'5 0fferin8. LOCKLEAZE SPORTS CE￿[RE TRU TRUSTEES, REPORT IINCLUDING DIR£cfoAS' REPORn ICOP4TINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 Plans for fvture period5 Alms tsndkey obJedlve5fvrfvture perlods Having become fully operational during 2019, the Trust and the trnding company continued to work with ltscal sports clubs and the community to run programmes for the bènefit of those who are socially excluded and asS5s￿ng them to integrate Into society. The original planning permisslon induded a four badminton court sized sports hall which became Phase 2 of the project. Due to COVID this project was put on hold and has stnce been reassessed in light of the s¢xlal changes which have happened post COVIO. A workin8 party has been set up to investigate all possible ¢ommer¢ial development5 of the allocated area. which priofitises local needs, and it is aft￿cipated that this project will commence during 2025. Golng concem The Trustees are not aware of any material uncertainties that could cast a Significant doubt about the charity continulng to adopt the going concern ba515 of accounting. The operatlon commlttee have built prudent forecasting models until end of 202512026 to demonstrate the charity's sustalnability. Strurture* 8overnan Flnancln8 acthAttes Repayment ol bank loans 15.7011 15,6201 Net cash used In IlnancSng actl¥ltS•s 15.7011 15,6201 Net decrease In ¢ash and cash eqUI￿lents 127.5581 123,1371 Cash and cash equivalents at beginning of year 372.779 395,916 Cash and cash equlvaleb)ts at end ot year 345,221 372,779 17- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 Attountlng policies Charlty status The tharity is limited by share capitsl. incorporated in England and Wales. The address of its registered 0f￿e is: Bonnington Walk Lockleaze Bristol 8S7 9XY 1.1 AccountlnK conventlon Lockleaze Sports Centre Trust meet5 the definitlon of a public benefit entity under FRS 102. A55ets and Ilabilittes are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accountr'ng policy notes. Summary of $18nlfi¢ant a¢¢ountlni polldes and key a¢tountlng estlmates The principal accountr'ng policies applied in the preparation of these financial statements are set out below. These pollcies have been conslstently applled to all the years presented, unless otherwise stated. The Inancial statements are prepared in sterlin& which is the functional currency of the charltable group Charity. Monetary amounts in these financial statements a￿ rounded to the nearest £. 18- LOCKLEAZE SPORT5 CENTRE TRUST NOTE5 TO THE FINANCIAL sfATEMENTS {COPmNUEDI FOR THE YEAR EhlOED 31 DECEMBER 2024 Accountin8 policies Icontinuèdl ststement of compliance The consolidated financial statements have been prepared in accordan￿ with Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to chariiies p￿parIng their accounts in accordance wlth the Financial Reporhng Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191- (Charities SORP IFRS 10211. the Financial Reportin8 Standard applicable in the UK and Republic ol I￿land IFRS 1021. They a150 comply with the Companies Act 2(#)6 and Charlties Act 2011. Basls of consolldation The consolidated financlal statements consolidate the financial ststements of the charity and Its subsidlary undertakings drawn up to 310ecember 2024. No statement of financial a¢dvides is presented for the charity as permitted by section 408 of the Companies Art 2006. The charity made a deficit for the financial year of £285.49512023.' £1,302,477). A subsidiary Is an entity controlled by the charity. Control Is achleved where the charity has the powe¥ to 8overn the financial and operadn8 policles of an entity so as to obtsin benetlts from its activities. The results of subsldlaries acqulred or dlsposed of during the year are Included in the statement of flnancSal activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustmenis afe made to the linancial statement5 of subsidiarles to bring their a¢counfjng pollces Into Ilne wSth those used by the group. The purchase method of accounttng is used to account for busine55 comblnations 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 155ued and liabilities incurred or assumed at the date of exchange, plus costs directly attributsble to the business combination. Idendfiable assets acquired and ISabill￿es and contlngent liabilities assumed in a business combination are measured inittally at their fair values at the acquisition date. Any eKess of the cost of the business combination over the acquirer'5 interest in the net fair value of the idenhfiable assets, liabilifjes and contingent liabilihes reco8nlsed Is recorded as 8oodwill. Inler-company transathons, balan¢es and unrealised gains on tran5athons between the charity and its subsidiaries, which a￿ related parties, are eliminated in full. Intra-8roup losses are also ellminated but may indicate an impalrment that requires re¢o8nition in the consolidated financial statements. 1.2 Going concem The financial statements have been prepared on a going Concern basis. The operation committee have built pwdent forecastin8 models until the end of 2026 to demonstrate the charity's sustainability. The trustees make this assessment in ￿SpeCt of a period of one year from the date of approval of the fi'nancial staternent5. 1.3 Incomlng resource5 All intome is recognised once the group has entitlement to the income, it ss probable that the in¢omÈ wlll be received and the amount of income receivable can be reliably measured. 19- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FIfrJANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR EAIDED31 DECEMBER2024 Accounting policie5 (Continued) Grants rectl￿ble Grants are reco8nised 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 DSvidends are recognised once the dividend has been declared and notification ha5 been received ol the dividend due. 1.4 Resources expended Expendlture All expenditure is recognised once there Is a le8al or Construthve obll8ation to that expenditure, it 15 probable that settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure headlng that aggre8ate slmilar costs to that category. Where cost5 cannot be directly attributed to parkncular headin85 they have been allocated on a basis consistent with the use of re￿urCes, with central staff costs allocated on the basis of time spent. and depreciation char8es allotated on the portion of the asset's use. Other support costs are allocated based on the spread of stsff costs. All resources expended are exclusive of irrecoverable VAT. RaSslng funds These are costs Incurred in attracting voluntary Income, the management of investments and those Incurred in tradin8 activities that raise funds. Support cosls Support Costs include central functions and have been allocated to activity cost categorles on a basls consistent with the use of resources, for example, allocatln8 property ¢osts by floor a￿a. or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the cost5 attribut3ble to the charity's compliance wilh constitutional and statutory requirements, includln8 audit, strategic management and trustees. meetings and reimbursed expenses. Government grants Government 8rants are recognised at the fair value of the asset ￿CeiVed or receivable when there is a reasonable assuran¢e that the grant conditions will be met and the grants will be received. A grant that specifies perfomiaft￿ condttions is wognised in income when the performance conditK)n5 are met. Where a grant does not specify performance conditions it is recognised in income when the proe&ds are received or receivable. A grnnt ￿e1ve￿ before the ￿CognitiOn critèria are satisfied is recogrised as a LOCKLEAZE SPORTS CEffftE TRU NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER2Q24 Atcountlng Oicies (Continued) 1.5 Tanglble fixed assets Tangible fixed assets a￿ initially measured at cost and subsequently measured at cost or val￿tron, net of depreciation and any impairment losses. The cost of tangible assets in¢ludes directly attributable incremental costs incur￿d in their acquisition and installation. Depreciation is recognised $0 as to wrlte off the ¢05t or valuation of assets less thelr ￿sIdUal values over their useful Ilves on the following bases: Le¥sehold land and buildings Plant and equlpment Flxtures and fittlnBs Between 30 and 125 years 15-25% 5traiBht Ilne basls 15-25% strai8ht Ilne basls The galn or loss arislng on the disposal of an asset Is detennlned as the differen¢e between the sale proceeds and the carrylng value of the asset. and is recognised In the ststement of financial athvides. Land and buildin8s have been valued by Andrew Forbes Chartered Surveyors during 2019 on an open market basis In accordance with 8uidelines 1$5ued by the Royal Institute of Chartered Surveyors, in order to reco8nlse the market cost of the gifted asset5 at that point in Jme. 1.6 FIMed awt Investments Investment in subsidiary entities are held at C05t less impairment. 1.7 Stocks Stocks are stated at the lower of cost and eS￿Mated sellin8 prlce less costs to complete and sell, after due re8ard for tsbsolete and slow movlng stocks. Cost is determined usin8 the ftrst.In, first-out IFIFOI method. Net realisable value is the estlmated selling price less all esifmated costs of completlon and costs to be Incurred in marketing, 5ellin8 and distribuyon. 1.8 Cash and cash equfvalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other shortrterm liquid investmen15 Wlth original maturities of three months or less, ènd bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie5. 1.9 Flnanclal Instruments The charitabke company has elected to apply the provisions of Section 11 'Basic Financial InstrLtments' and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognisèd in the balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and Ibabilities 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 simultsneously. 21 LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMEfr¥fs ICONTINUEDI FOR THE YEAR ENDED31 DECEMBER 2024 Accounting policies (Continued) Baslcflnanclol assets Basic financial assets, which include debtors and cash and bank balances. are initially measured transactr'on 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 o market rate of interest. Fironcial a55et5 classified as receivable withln one year a￿ not amort?sed. 8osl¢Alnonclolllobllltles 8asic financial liabilities, including creditor5 and bank loans are Initfally recognlsed at transaction price unless Ihe arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payment5 discounted at a market rate of interest. Financial lia￿lItieS classilied as payable wSthln one year ale 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 classilled as current llabl1l￿e5 if payment is due within one vear or le55. If not, they are presented as nortrcurrent liabilities. Trade creditors are re¢o8nlsed Initially at tran5actlon prlce and subsequently measured at amorttsed cost usln8 the effe￿ve interest method. Derecoonlt*on oAfinonch71 Ilablllttes Flnancial liabilities are dereco8nised when the charitable company's contractual obllgattons expire or are dischar8ed or cancelled. 1.10 Retlfement beneffts A dÈfTrned contribution plan is a pension plan Ltnder which fixed contributions are paid into a pension fund and the company has no le8al or constructive obligation to pay further contributions even if the furd does not hold sufficlent assets to pay all employees the beneffts relating to employee service in the tuffent and pfior periods. Contributions to defined contribution plans are reco8nised as employee benefit expense when they are due. If contrtbutlon payments exceed the Contribu￿on due for service, the excess is recoBnised as a prepayment. -22- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL sfATEMEPITS ICOPffl14UEDI FOR THE YEAR ENDED31 DECEMBER 2024 Accounting polities Iconttnuedl 1.11 Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherante of the objectives of the group. De518nated funds are unrestricted funds set aside at the discretion of the trustees for specific wrposes. The designated fund for fixed assets is parr of the unrestricted funds that reP￿sent fixed assets used in the day to day operations of the charity. CrlY¢al accounllng e5tlmates andJud¥ements The group makes estimates and assumptions cOn￿mIng the future. The resulting accounting estimates will by definition, seldom equal to the Telated actual results. The estimates and assumptions that have a signlfi¢ant risk of causinB materlal adjustment to the carrying amounts of assets and liabilities wf(hin the next year are addressed below. 11 Useful economic lives of tanBible assets The annual depreciatlon char8e for tsnglble assets Is sensI￿ve to changes In the estimate useful eeonoml¢ lives and resldual values of the assets. The usefvl economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimate based on te¢hnolo8lcal advancement, future investments, economic utlli5atlon and the physical condifjon of the assets, see note 13 & 14 for the carryin8 amount of each class of asset held, and above for the useful economic Il*s foi each class of assets. 111 Impalrment of debtors The group makes esfjmates of the recoverable value of debtors. When assessing the impairment of debtors, management consider factor5 including the Current credit rating of the debtor, the ageing profile of debtors and historic eiperience. See note 17 for the net carryin8 amount of debtors and associated impairment provislon. Donatlons and legacle5 Unre5trlrted Restrlcted fund5 funds general 2024 Totsl fund5 2024 2024 2023 Donations and gifts Grants from organisations 2.825 28.251 2.82S 28,251 1,395,284 31.076 31,076 1,395,284 For the year ended 31 December 2023 17,333 1.377.951 1,39S,284 The restrirted grant relates to a capital grant received from VWE for £nil12023.. £1.377,9511. LQCKLEAZE 5PORT5 CENTR£ TRUST NOTES TO THE FINANCIAL STATEMENTS {CONnNUED) FOR THE YEAR ENDED31 DECEMBER 2024 Charltable activitles Unrestrlcted Unre5trlrted fund fund general general 2024 2023 Sporting activities 447,798 393.921 Other tradinl acthiitles Unrestrfcted Unrestrlctsd funds funds 8eneral general 2024 2023 Trading income,. Sales of goods and services 406,343 358,953 Investments Unre5tr5rted Unre5trlcted tunds funds general Beneral 2024 2023 Interesl receivable 12.694 6,950 -24- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMETrif5 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other income Unrestricted UnrestTi¢ted funds funds general deslgnatèd 2024 2024 Total Unrestricted funds general 2023 2024 Net gain on disposal of tanglble fixed assets Other income 13.649 13,649 58,164 58,164 143,889 58,164 13,649 71,813 143,889 For the year ended 31 Oecember 2023 143.889 143,889 Other income Includes a one off amount of £nil12023: £116.CK)Jl related to the easement for rlght of access. Ralslni funds Unre5trfcted Unrestrlcted funds fund$ Beneral general 2024 2023 Costs of goods sold 203,940 170,299 ios 161 204,045 170,460 -25- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEOI FOR THE YEAR EIIDED 31 DECEMBER2024 Charftable activities Unrèstrlrted UnrestrSrted funds fund5 2024 2023 Depreciation and impairment Sundry expendlture 314,920 235,814 314,920 235,813 Share of support costs (see note 101 Share of governance costs (see note 101 676.884 7.¢XIO 575,843 7,425 998.805 819,081 Analysls by fund Unrestricted funds- 8eneral Unrestricted funds- designated Restricted fund5 689,340 227,414 82,051 591.265 227,816 998,805 819,081 LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMEpif5 (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER2024 10 Support COStS Support Governan ¢osts 2024 2023 Staff costs Office ¢ostS Gèneral insurance Staff training Premises costs Telephone. software and subscriptions Adve￿sIng and sundry expense Travel Flnanre ¢harges Legal, consultancy and accountancv Irrecoverable VAT Audit fees 306.448 5,182 18,393 2,907 250,735 17,971 3,218 314 8,488 38,483 24,745 306,448 5,182 18,393 2,907 250,735 17,971 3,218 314 264,780 2,828 12,928 4,004 181,054 17,527 9,500 366 4,439 58,552 19,867 7,425 8,488 38,483 24,745 676,884 683,884 583,268 Analy5ed between Charitsble activlties 676,884 683,884 583,268 Governance costs includes payments to the auditors of £7.OW12023- £7,425) for audit fee5. 11 Tamatlon The parent enttty is a registered charity and is therefore exempt from taxation in respect of income and capital gains received with 5478-489 of the Corporation Taxes Act 2010 and $256 of the taxatton of the Chargeable Gains Act 1992, to the extent that these are applied to its charitable objects purpose only. The tradin8 subsidiary is loss making and hence no amounts chargeable to corporation tax in the current year In respect of trading income. However. a tax ¢hafge of £10512023.. £1611 has arose this year in respect of investment income. LOCKLEAZE SPORT5 CETrThRE TRUST NOTES TO THE FINANCIAL STATEMEKfs ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER2024 12 Employees NtsmbÈr of employees The average monthly number of employees during the year was= 2024 2023 Number Number Core stsff Food & beverage staff 20 19 24 23 Employment cost$ 2024 2023 Wages and salarles Social security costs Other pension cost5 286,680 15,496 4,272 247,155 13,525 4,100 306,448 264,780 The above stsff numbers equates to 712023- 111 full tlme equivalents. Contributions io the employee penslon schemes for the year totslled £4,27212023-. £4,100). 412023: 41 of the above employees partl¢Spated in the Deflned Contrlbution Penslon Schemes. No frustee or other person ￿lated to the ¢harSty had any personal Interest in any contract or transaction entered into by the charity12023: £Nill. There were no employees whose annual remuneration was £60,000 or more. -28- LOCKLEAZE SPORT5 CENTrE TRUST NOTES TO THE FINANCIAL STATEMEpif5 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 TanglbSe fixed assets Group ntar equlpmert Fithwe5 Jnd fituws Total at)d bulldlr4V Cost At l January 2024 Additions Disposals 10.009,422 945 1115.4211 77.551 7,017 26,088 423 10,113,061 8,385 1115,4211 At 31 December 2024 9,894,946 84.568 26,511 10,006.025 DepTrclatlon and Impalrment At I january 2024 Depreciation Charged in the year Eliminated In respect of disposals 987.546 309.465 113,6491 68,341 4,078 22,598 1,377 1,078,485 314,920 113.6491 At 31 December 2024 1.283.362 72,419 23,975 1.379,756 Carryln8 amount At 31 December 2024 8,611,584 12,149 2,536 8,626,269 At 31 December 2023 9,021.876 9.210 3.490 9,034,576 InclLtded within the net book value of land and buildings above is £Nil12023.. £Nill in ￿SpeCt of freehold land and buildings and £8.611,58412023'. £9.021,8761 in ￿SpeCt of leaseholds. -29- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMEKfs {CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Tangible fixed a95et5 Charity ant arAI Fi¥Lwe5 and and Cost At l January 2024 Additions 10,(MJ9,422 945 1115,4211 77,551 7.017 26,088 423 10,113,061 8.385 1115,4211 Dlsposals At 31 December 2024 9.894.946 84,568 26,511 10,006,025 AmortSsatlon and 5mpalrnient At I january 2024 Depreciats'on charge for the year Dlsposals 987.546 309,465 13,649 68,341 4,078 22,598 1,377 1,078,485 314,920 13,649 At 31 December 2024 1.283,362 72,419 23,975 1,379,756 Carryln8 amount At 31 December 2024 8.611.S84 12,149 2,536 8,626,269 At 31 December 2023 9.021.876 9.210 3,490 9,034,576 Included wlthln the net book value of land and bulldlngs abovels £NII12023.. £Nill in respect of freehold land and bulldings and £8.611,58412023: £9.021,8761 in respect of leaseholds. 15 Flxed asset Investment Charlty C05t as at the 31 Oecember 2024 £1 2023 £1 Details of the Charlvs subsldiaries at 31 D*￿mber 2024 are as follows= Name of un(Jertakin8 RÈglstered office NatuYÈ of buslness Class of shares held % Held Dlrect Indlrect Lockleaze Sports Centre Ltd England and Wales Operates the Sport5 Centre on Ordinary behalf of the char￿ty i(MJ.00 LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL 5fATEMEPm ICOlmf4UEDI FOR THE YEAR ENDED 31 DECEMBER 2024 16 Stocks Group 2024 Group 2023 Charity 2024 Charity 2023 Finished goods and goods for resale 9,992 7,107 17 Dethors Group 2024 Group 2023 Charity 2024 Charlty 2023 Amounts fallln8 d￿e wlthln one year: Trade debtors Amounts owed by subsidiary undertakSn8s Other debtor5 Prepayments and accrued In¢ome 53.983 41.134 5,913 2,123 4,052 1,704 16,814 16,507 72,501 57.641 8,036 4,052 18 Credltors: amounts lalllni due wlthln one year Group 2024 Group 2023 Charlty 2024 Charlty 2023 Bank loans Corporafjon tax payable Other lax8￿on and social security Trade creditors Amount5 owed to subsidlary undertakln8S Other creditors Note 20 5,882 161 29,789 197,OS2 105 21,313 22,598 6,161 165,165 10,164 22,533 18,840 72.431 251,724 6,161 175,329 19 Credltors: amounts fallln8 due after more than one year Group 2024 Gmup 2023 Charity 2024 Char5tv 2023 Bank loans Note 20 27,614 33.315 31 LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER ZOZ4 20 Loans and overdrafts Group 2024 Group 2023 Charity 2024 Charity 2023 Bank loans 33,496 39,197 Payablè wSthin one year Payable after one year 5,882 27,614 5,882 33,315 Bank loans include £50,IXW) advanced in 2020 under the UK Govemment C8ILS Loan scheme. The loan 15 for a 120 month period with an annual Inte￿$t of 2.5%. 21 Retlrtment benefft sthemes Dellned conlrlbutlon schemes The tradin8 en￿tY operates a defined contrfbutton penslon scheme for all qualifyin8 employees. The assets ol 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 wa5 £4,27212023. £4,100). 32- LOCKLEAZE SPORT5 CETr￿RE TIIUST NOTES TO THE FINANCIAL 5fATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 22 Funds Group Toffisf•Ys Bala￿e at 91 TrtcÈmbtr ljanuwy Z014 Unrestrlrted funds Designated- flxed assets De518natÈd sinking fund General 6,947,348 130,CQO 731.765 13.649 1227,4141 6,733,583 130,000 794,455 956.075 1893,38SI Re5trl¢ted funds Hockey Pitch 1.377,951 182,0511 1,295,900 Total funds 9,187,064 956.075 11.202.850) 8,953,938 Charlty In(on￿r￿j lJ•r40ry2024 31 OKember 2024 Unrestrfrted funds Designated. fixed assets DesiBnated- sinking fund General 6,947,348 130.C 717.896 13.649 1227,4141 6,733.583 130,000 741,866 43.641 119,6711 Re5trlrted fvnds Hockey Pitch 1.377.951 182.OSII 1,295,900 Total funds 9,173,195 57.290 1329,1361 8,901,349 Desi8nated funds represènt the donated asset from the Lockleaze Grounds Trust namely the land and buildings at Bonnington Walk, Lockleaze. Durin8 the year the trustees have made the decision to desi8nate £Nil12023: £130,(X))I to a "rin8fenced" sinking fund to accumulate funds for hjture ￿P1a¢ement of the pitch Surfa￿5. Restricted funds represent the donation from University of West of England IUWEI to support the building of the hockey pttch. The restriction remains in place over the period of the lease which UWE holds over the pitch. LOCKLEAZE SPORTS CENTRE TRU NOTES TO THE FINANCIAL ￿ATEmEr￿s ICOPMNUEDI FOR THE YEAR ENDED 31 DECEMBER2024 23 Funds Group IlKoml￿ Resouvtt5 31 Decqfflbef 20ZJ Unrestrl¢ted funds De5i8nated- flxed assets Designated- sinking fund General 7.175,164 1227,8161 6,947.348 1130,0001 991,765 130.(M)O 1761,7251 1130,0001 702.444 921.046 Restrlrted funds Hockey Pitch 1.377,951 1,377.951 Total funds 7.877.608 2,298,997 989,541 9,187,064 Charltv IN•m Tran51e •ry 2023 JI D•cqfflbBW 2023 Unrestrlcted funds Designated - filed assets Desi8nated sinking fund General 7,175.164 1227,8161 6,947,348 1130,(1001 977,896 130,000 146,1061 1130,0001 695,557 198.44S Restrlcted funds Hockey Pitch 1.377,951 1,377,951 Total funds 7.870,721 1.576,396 1273,9221 9,173,195 Designated funds represent the donated asset from the Lockleaze Grounds Trust namely the land and buildings at Bonnington Walk. LLKkIe3￿. During the year the trustees have made the decision to designate £Nil 12023.. £130,000) to a 'rin8 fenced" sinkin8 fLtnd to accumulate funds for fLrture replacement of the pitch surfaces. Restricted funds represent the donation from Univefsity 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 U holds over the prtch. LOCKLEAZE SPORTS CEMfRE TRUST NOTES TO THE FINANCIAL sfATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 24 Analysis of net assets between lunds Unrestricted Unrestricted Restricted funds- funds- funds Generdl DesF8nated 2024 2024 Total Total 2024 2024 2023 Fund balances at 310ecember 2024 are represented by: Tangible assets Current a55etsllllabilitiesl Lon8 term Ilabllltles 596,786 6.733,583 355,283 127,6141 I,295.￿￿? 8,626.269 355.283 127,6141 9,034,576 185,803 133,3151 924,455 6,733,583 1.295,9(M) 8,953.938 9,187,064 Included in 2023 are Deslgnated Tan8lble Fixed Assets of E8,328,899. 25 Related party tran5aCtlons Group As disclosed in the financial revlew in 2019 the Lockleaze Ground Trust donated the Land and Buildng at Bonnlngton Walk, Lockleaze to the charity, Mr J S D Tyler is a trustee of thls charity and the Lock￿ale Ground Trust. Trustee, Mr A Isaac is Head of Sport at UWE who are a malor user of the facility Wlth income of £49,252 12023- £47,575) during the year. A5 at the ye8r end UWE owed the tradin8 subsldlary £7,74812023.. £5,656>. Trustee, MT A Tutton 15 CEO of Bristol Rovers Community Trust who are a major user of the faclllty wSth income of £59,17912023.. £58.1361 during the year. As at the year end of Bristol Rovers Community Trust owed the trading subsidiary £3,98612023.. £5,842) There were no other related party transathons in the year that are required to be disclosed. The charlty is exempt from disc105inB tran$8ctlons with its subsidiary under provisions of FRS 102, as the subsidiary is lo￿￿ controlled by the charity. 35- LOCKLEAZE SPORTS CENTRE TRUST NOTES TO THE FINANCIAL STATEMETrif5 (coP￿INuED) FOR THE YEAR ENDED 31 DECEM8ER2024 26 Cash generated from opertions 2024 2023 (Deficitllsurpus for the year 1233,1261 1.309,456 Adjustments for.. Investment income recoBnised in statement of financial acttvittes Gain on disposal of tangible fixed a55et5 Depreciation and impairnient of tangible fixed assets 112,6941 113,6491 314,920 16,9501 235,814 Movements in working capital: Ilncreasel in stocks Ilncreasel in debtors IDecreasellincrease in creditors 12,8851 114.8601 163,8721 11,8221 110,0381 59,672 Cash (absorbed byllgenerated from operdtlons 126,1661 1,586,132 27 Anatysls of changu In net fvnds At iJM¥wy2024 ash 110￿ At 31 D•clffl￿l Z024 Cash at bank and in hand 372.779 127,5581 345,221 Loans falling due within one year Loans falling due after more than one year 15,8821 133,3151 15,8821 127,6141 5,701 333.582 121,8571 311,725