2025-03-31-accounts

Charity registration number 1170729

Company registration number CE009368 (England and Wales)

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

CONTENTS

	Page
Legal and administrative information	1
Trustees' report	2 - 5
Statement of trustees' responsibilities	6
Independent auditor's report	7 - 8
Statement of financial activities	9
Balance sheet	10
Statement of cash flows	11
Notes to the financial statements	12 - 24

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr Mark Rowlands Ms Carmel McCarth Mr Adam Parry Mr Paul Islip Ms Magali Lovell-Pascal Charity number (England and Wales) 1170729 Company number CE009368 Registered office Holywell Leisure Centre North Road Holywell Flintshire CH8 7TQ Auditor Hargreaves & Woods Cholmondeley House Dee Hills Park Chester Cheshire CH3 5AR

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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).

Holywell Leisure Centre is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission (number 1170729). Their constitution was adopted on 12 October 2016 and was entered on the Charity Commission register on 13 December 2016.

The Leisure Centre building is operated on a 27 year lease from Flintshire County Council for the period 2017-2044.

Objectives and activities

The objectives of the charity are to provide a range of leisure, sporting, health and social facilities primarily run by the community, for the community, in the most inclusive way possible. In doing so, it aims to cater for, and improve upon, the physical, social and mental wellbeing of all its members and visitors.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In particular, they have considered how the activities offered will contribute to the aims and objectives set. The trustees are committed to equal access for all.

Public benefit

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

Activities

The centre provides a wide range of competitive and personal fitness sports, leisure pursuits, social activities and health benefits to all age groups and abilities. Users can access a variety of facilities including the swimming pool, outdoor all weather pitch, sports hall, cricket net training, community/dance studio, cafe, soft play, crèche, squash courts, library, meeting rooms and fully equipped gym. In addition, the leisure centre team manage out of school hours access to the sports hall and outdoor all weather pitch at Ysgol Treffynnon High School.

Achievements and performance

Significant activities and achievements against objectives

– Improved Communications With the support from Flintshire County Councils “Emergency Reserve Fund” we were able to employ Amy Lewis as our “Marketing and Communications Manager” from Feb 23. Amy has made a significant contribution by improving our communications both internally and to our customers. The website and social media platforms have been transformed and we now have over 3600 followers on Facebook alone. Amy is now a full time employee in this role. We also had an Open Day in the summer when the whole centre was available for use free of charge. This was extremely well attended and an excellent promotion of the centre.

New facilities – We have introduced new Yoga classes , extended Boot Camp classes. Some classes are now oversubscribed so we are actively looking for alternative space we can use.

We have re-furbished the squash courts and the outdoor 5 aside pitch surface with council funding. Indoor cricket training is now fully booked thanks to the new nets we have installed.

We now have crèche facilities in the old leisure suite area that is run by a 3rd party.

– Energy Increasing energy costs continue to be a real challenge. We now have electricity generation from 3 sources ( CHP unit, Solar and grid). An energy review is planned for 2025/26 to ensure we are using electricity efficiently and to look at battery storage.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

Despite the challenges around energy costs, National Insurance increase and the cost of living increases for our customers, the overall financial performance was pleasing.

Total Income was £1,072,557 from sales turnover and grant support to March 31st 2025. This comprises of sales income £831,524, grants of £210,313 and investment income of £30,720. Expenditure totalled £1,154,538 which resulted in a loss of £81,981. Our contingency fund account stands at £447,516 and a carry forward amount in the business account of £88,368. (Please see the Prior Year Adjustments note at the end of the trustees report.)

Our ongoing grants provided by the local county, town and community councils are as follows:

Flintshire CC £198,063

Holywell TC £10,000

Local Community Councils £2,250

Reserves policy

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, be maintained at a level of £50,000.

This reserve is an emergency fund and would be used in the event of unforeseen circumstances adversely affecting the running of the leisure centre. The reserve needs the approval of the Board before it can be used and expenditure will be prioritised depending on the circumstances. Future increases in the reserve fund will be reviewed annually.

Commitments and Liabilities

There are legal requirements for the business to meet predetermined standards and for regular testing and certification relating to the safety of our customers and employees. There include chlorine levels in the swimming pool, Legionella testing in the water supply, alarm testing and fire equipment inspections.

We continue to pay back the Bounceback Loan started in 2021 at £10,400 PA over 5 years.

We also had an EU grant of £60,000 for the new boiler installation in 2019. Repayment is triggered by reaching specific turnover figures. Repayments started at £108 per month and are adjusted annually.

Investment policy

The trustees intend that all future surplus income is retained by the centre and reinvested back into the facility. Funds are held by HSBC which allow for easy access and management of the day to day accounts.

Plans for future periods

We will continue to drive increased awareness of the centre and all it can offer to the community through the website and social media.

Prices must remain competitive and offer great value to our customers. We must therefore focus on improved efficiencies, reduced expenditure, additional revenue streams and grant applications.

We need to fully understand the electric usage by month and the savings generated by the solar power system. This may justify an investment in battery storage if there is sufficient surplus generated.

New locker doors will be installed in the pool changing area by June 2025.

The one to one NERS ( National Exercise Referral Scheme) waiting list is very long so we introduced a Well Being Membership with classes for people who want to become more active but do not need one to one commitment.

The staff have been working with local police as part of the Police and Community Trust (PACT) initiative to combat antisocial behaviour by offering activities at the centre.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

The charity is governed by its constitution dated 12 October 2016. The charity is a Charitable Incorporated Organisation (CIO) Registered charity number 1170729.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr Leonard Jones

(Resigned 2 September 2024)

Dr Mark Rowlands Ms Carmel McCarth Mr Adam Parry Mr Paul Islip Ms Magali Lovell-Pascal

Recruitment and appointment of trustees

None of the trustees have any beneficial interest in the CIO. All the trustees are members of the CIO and guarantee to contribute £1 in the event of a winding up.

The board of trustees is assisted by non-voting voluntary associates who provide specialist and expert assistance (when required) together with the contracted senior management team of the centre.

There must be at least 3 trustees on the Board which meets once per month. There is also a Finance Committee which usually meets once per month purely to review the finances of the centre.

The trustees oversee the CIO and exercise all the powers of the CIO including the appointment of new trustees, middle and senior management staff and consultants.

The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The charity's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

• pay in accordance with the charity's contractual and other legal obligations.

Other matters

Culture

There is a very positive culture at the centre with a good team ethic. The Board of Trustees would like to place on record their thanks to all the employees who all work extremely hard to maintain our position at The Heart of the Community.

Prior Year Adjustments

These accounts show a prior year adjustment for deferred income which was previously recognised over the life of capital assets. This has resulted in income relating to prior years being recognised in the 2024 Statement of Financial Activities which has created a surplus which is not an accurate representation of the cash flow positions, as reflected by the Statement of Cash Flows. The unrestricted fund balance which has increased due to this adjustment is also not representative of the true position of the charity. The fund balance per the Statement of Financial Activities at 31st March 2025, is £447,516, the true position is approximately £60,000. This large reserve is created by income from grants to purchase capital items being reflected in the Statement of Financial Activities, but the items purchased are capitalised on the balance sheet, therefore the expenditure is not reflected in the Statement of Financial Activities. The capital items are depreciated over their useful economic life, this depreciation is reflected in the Statement of Financial Activities and has contributed to the loss for the year.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees' report was approved by the Board of Trustees.

.............................. Mr Paul Islip Trustee Date: .............................................

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The 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).

The law applicable to charities in England and Wales requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

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

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

Opinion

We have audited the financial statements of Holywell Leisure Centre/Canolfan Hamdden Treffynnon (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

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 charity 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees 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 charity’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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

The comparative figures have not been audited.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

(Senior Statutory Auditor)

For and on behalf of Hargreaves & Woods, Statutory Auditor Chartered Accountants Cholmondeley House Dee Hills Park Chester Cheshire CH3 5AR Date: .........................

Hargreaves & Woods is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 3 150,313 60,000 Charitable activities 4 831,524 - Investments 5 30,720 - Total income 1,012,557 60,000 Expenditure on: Raising funds 6 3,388 - Charitable activities 7 1,151,150 - Total expenditure 1,154,538 - Net income/(expenditure) (141,981) 60,000 Transfers between funds 60,000 (60,000) Net movement in funds 9 (81,981) - Reconciliation of funds: Fund balances at 1 April 2024 529,497 - Fund balances at 31 March 2025 447,516 -	Total Unrestricted funds 2025 2024 as restated £ £ 210,313 372,907 831,524 776,416 30,720 35,666 1,072,557 1,184,989 3,388 4,568 1,151,150 1,000,663 1,154,538 1,005,231 (81,981) 179,758 - - (81,981) 179,758 529,497 349,739 447,516 529,497	Total Unrestricted funds 2025 2024 as restated £ £ 210,313 372,907 831,524 776,416 30,720 35,666 1,072,557 1,184,989 3,388 4,568 1,151,150 1,000,663 1,154,538 1,005,231 (81,981) 179,758 - - (81,981) 179,758 529,497 349,739 447,516 529,497
		1,184,989
		4,568 1,000,663
		1,005,231
		179,758 -
		179,758 349,739
		529,497

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

BALANCE SHEET

AS AT 31 MARCH 2025

2025 Notes £ Fixed assets Tangible assets 13 Current assets Stocks 14 3,845 Debtors 15 74,902 Cash at bank and in hand 88,368 167,115 Creditors: amounts falling due within one year 17 (177,668) Net current (liabilities)/assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets The funds of the charity Unrestricted funds 21	2024 as restated £ £ £ 521,753 487,978 879 89,960 144,541 235,380 (118,882) (10,553) 116,498 511,200 604,476 (63,684) (74,979) 447,516 529,497 447,516 529,497 447,516 529,497

The financial statements were approved by the trustees on .........................

.............................. Mr Paul Islip Trustee

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes Cash flows from operating activities Cash (absorbed by)/generated from operations 25 Investing activities Purchase of tangible fixed assets Investment income received Net cash used in investing activities Financing activities Repayment of borrowings Repayment of bank loans Net cash (used in)/generated from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2025 £ (63,327) 30,720 (1,198) (10,097)	2024 as restated £ £ £ (12,271) 93,414 (226,257) 35,666 (32,607) (190,591) 59,673 (9,846) (11,295) 49,827 (56,173) (47,350) 144,541 191,891 88,368 144,541

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Holywell Leisure Centre/Canolfan Hamdden Treffynnon is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission (registration number 1170729).

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 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.

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 improvements 15, 24, 25 and 30 years straight line Plant and equipment 20% reducing balance Fixtures and fittings 20% reducing balance

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 the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

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

1.9 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.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity 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 charity's balance sheet when the charity 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.

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 charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Restricted funds funds 2025 2025 £ £ Donations and gifts 834 - Grants 149,479 60,000 150,313 60,000	Total Unrestricted Restricted Total funds funds 2025 2024 2024 2024 as restated as restated as restated £ £ £ £ 834 20 - 20 209,479 372,887 - 372,887 210,313 372,907 - 372,907	Total Unrestricted Restricted Total funds funds 2025 2024 2024 2024 as restated as restated as restated £ £ £ £ 834 20 - 20 209,479 372,887 - 372,887 210,313 372,907 - 372,907
		372,907

4 Income from charitable activities

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
		as restated
	£	£
Sales
Sale of goods	831,524	776,416

5 Income from investments

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Rental income	29,200	33,541
Other income	1,520	2,125
	30,720	35,666

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HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Expenditure on raising funds

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
		as restated
	£	£
Trading costs
Operating charity shops	879	2,064
Operating trading company	6,354	3,383
Other trading activities	(3,845)	(879)
	3,388	4,568

7 Expenditure on charitable activities

	Expenditure	Expenditure
	2025	2024
		as restated
	£	£
Direct costs
Staff costs	611,247	563,589
Depreciation and impairment	29,551	29,273
Marketing	1,113	196
Bank charges	32,298	24,609
Hire of machinery	-	947
Chemicals	21,182	17,710
Rates and insurance	55,497	45,312
Light and heat	201,097	173,725
Telephone, stationery and postage	5,046	3,486
External contractors	6,117	8,404
Staff training	1,078	4,285
Cleaning	17,271	10,196
Service contracts	16,905	15,039
Licences and subscriptions	4,149	1,396
IT software and hardware	14,313	11,033
Repairs and renewals	101,805	60,490
Costs at Holywell High School	5,136	9,952
Other charitable expenditure	20	-
	1,123,825	979,642
Share of support and governance costs (see note 8)
Governance	27,325	21,021
	1,151,150	1,000,663
Analysis by fund
Unrestricted funds	1,151,150	1,000,663

• 16 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs allocated to activities

Governance costs Analysed between: Expenditure Governance costs comprise: Audit fees Accountancy Legal and professional Independent examination fees Share of support costs 9 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets	2025 2024 as restated £ £ 27,325 21,021 27,325 21,021 2025 2024 as restated £ £ 10,000 - 10,766 15,705 6,556 3,156 - 2,160 3 - 27,325 21,021 2025 2024 £ £ 10,000 - 29,551 29,273	2025 2024 as restated £ £ 27,325 21,021 27,325 21,021 2025 2024 as restated £ £ 10,000 - 10,766 15,705 6,556 3,156 - 2,160 3 - 27,325 21,021 2025 2024 £ £ 10,000 - 29,551 29,273
		21,021
		2024 £ - 29,273

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2025	2024
Number	Number
39	40

• 17 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Employees Employment costs Wages and salaries Social security costs Other pension costs	(Continued) 2025 2024 as restated £ £ 534,565 487,074 30,466 25,407 46,216 51,108 611,247 563,589	(Continued) 2025 2024 as restated £ £ 534,565 487,074 30,466 25,407 46,216 51,108 611,247 563,589
		563,589

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

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

13	Tangible fixed assets
		Leasehold	Plant and	Fixtures and	Total
		improvements	equipment	fittings
		£	£	£	£
	Cost
	At 1 April 2024	488,818	111,864	8,348	609,030
	Additions	46,710	15,834	783	63,327
	At 31 March 2025	535,528	127,698	9,131	672,357
	Depreciation and impairment
	At 1 April 2024	46,059	68,396	6,598	121,053
	Depreciation charged in the year	19,265	9,818	468	29,551
	At 31 March 2025	65,324	78,214	7,066	150,604
	Carrying amount
	At 31 March 2025	470,204	49,484	2,065	521,753
	At 31 March 2024	442,760	43,468	1,750	487,978
14	Stocks
				2025	2024
					as restated
				£	£
	Raw materials and consumables			3,845	879

• 18 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income 16 Loans and overdrafts Bank loans Other loans Payable within one year Payable after one year 17 Creditors: amounts falling due within one year Notes Bank loans 16 Other borrowings Other taxation and social security Deferred income 19 Trade creditors Accruals 18 Creditors: amounts falling due after more than one year Notes Bank loans 16 Other borrowings	2025 2024 as restated £ £ 1,582 - 73,320 89,960 74,902 89,960 2025 2024 as restated £ £ 16,516 26,613 58,475 59,673 74,991 86,286 11,307 11,307 63,684 74,979 2025 2024 as restated £ £ 10,000 10,000 1,307 1,307 9,051 7,859 176 - 88,195 47,292 68,939 52,424 177,668 118,882 2025 2024 as restated £ £ 6,516 16,613 57,168 58,366 63,684 74,979	2025 2024 as restated £ £ 1,582 - 73,320 89,960 74,902 89,960 2025 2024 as restated £ £ 16,516 26,613 58,475 59,673 74,991 86,286 11,307 11,307 63,684 74,979 2025 2024 as restated £ £ 10,000 10,000 1,307 1,307 9,051 7,859 176 - 88,195 47,292 68,939 52,424 177,668 118,882 2025 2024 as restated £ £ 6,516 16,613 57,168 58,366 63,684 74,979
		74,979

• 19 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 April 2024 Resources deferred in the year Deferred income at 31 March 2025 20 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes	2025 2024 as restated £ £ 176 -	2025 2024 as restated £ £ 176 -
	2025 2024 as restated £ £ 176 - - - 176 - 176 - 2025 2024 as restated £ £ 46,216 51,108

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

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 1 April	Incoming	Resources	Transfers	At 31 March
	2024	resources	expended		2025
	as restated
	£	£	£	£	£
General funds	529,497	1,012,557	(1,154,538)	60,000	447,516

• 20 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21	Unrestricted funds					(Continued)
	Previous year:	At 1 April	Incoming	Resources	Transfers	At 31 March
		2023	resources	expended		2024
		as restated	as restated	as restated		as restated
		£	£	£	£	£
	General funds	349,739	1,184,989	(1,005,231)	-	529,497
22	Analysis of net assets between	funds
				Unrestricted	Restricted	Total
				funds	funds
				2025	2025	2025
				£	£	£
	At 31 March 2025:
	Tangible assets			317,161	204,592	521,753
	Current assets/(liabilities)			(10,553)	-	(10,553)
	Long term liabilities			140,908	(204,592)	(63,684)
				447,516	-	447,516
				Unrestricted	Restricted	Total
				funds	funds
				2024	2024	2024
				as restated		as restated
				£	£	£
	At 31 March 2024:
	Tangible assets			274,491	213,487	487,978
	Current assets/(liabilities)			116,498	-	116,498
	Long term liabilities			138,508	(213,487)	(74,979)
				529,497	-	529,497

23 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year Between two and five years	2025 2024 as restated £ £ 7,441 5,544 20,627 16,602 28,068 22,146	2025 2024 as restated £ £ 7,441 5,544 20,627 16,602 28,068 22,146
		22,146

• 21 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

24 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

25	Cash absorbed by operations		2025	2024
				as restated
			£	£
	(Deficit)/surplus for the year		(81,980)	179,758
	Adjustments for:
	Investment income recognised in statement of financial activities		(30,720)	(35,666)
	Depreciation and impairment of tangible fixed assets		29,551	29,273
	Movements in working capital:
	(Increase)/decrease in stocks		(2,966)	1,185
	Decrease/(increase) in debtors		15,058	(66,371)
	Increase in creditors		58,610	54,231
	Increase/(decrease) in deferred income		176	(251,015)
	Cash absorbed by operations		(12,271)	(88,605)
26	Analysis of changes in net funds
		At 1 April 2024	Cash flowsAt	31 March 2025
		as restated
		£	£	£
	Cash at bank and in hand	144,541	(56,173)	88,368
	Loans falling due within one year	(11,307)	-	(11,307)
	Loans falling due after more than one year	(74,979)	11,295	(63,684)
		58,255	(44,878)	13,377

• 22 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

27 Prior period adjustment

Changes to the balance sheet

Changes to the balance sheet
	At	31 March 2024
	As previously	Adjustment	As restated
	reported
	£	£	£
Current assets
Stocks	2,022	(1,143)	879
Debtors due within one year	54,284	35,676	89,960
Creditors due within one year
Loans and overdrafts	(10,000)	(1,307)	(11,307)
Taxation	(8,195)	336	(7,859)
Other creditors	(36,783)	(62,933)	(99,716)
Creditors due after one year
Loans and overdrafts	(16,665)	(58,314)	(74,979)
Deferred income	(455,081)	455,081	-
Net assets	162,101	367,396	529,497
Capital funds
Income funds
Unrestricted funds	162,101	367,396	529,497
Total equity	162,101	367,396	529,497
Changes to the profit and loss account
	Period ended 31 March		2024
	As previously	Adjustment	As restated
	reported
	£	£	£
Donations and legacies	171,341	201,566	372,907
Charitable activities	774,785	1,631	776,416
Raising funds	3,425	1,143	4,568
Charitable activities	983,986	16,677	1,000,663
Net movement in funds	(5,619)	185,377	179,758

These accounts show a prior year adjustment for deferred income which was previously recognised over the life of capital assets. This has resulted in income relating to prior years being recognised in the 2024 Statement of Financial Activities which has created a surplus which is not an accurate representation of the cash flow position, as reflected by the Statement of Cash Flows.

• 23 -

HOLYWELL LEISURE CENTRE/CANOLFAN HAMDDEN TREFFYNNON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

28 Reasons for Prior Year Adjustments

The following adjustments have been made to the prior year:

Stock - The closing stock was valued at retail price rather than cost.

Debtors due within one year – Records were previously maintained on a cash basis, balances receivable at 31 March 2024 were understated.

Taxation – The balance was incorrectly stated in the financial statements

Other Creditors - Records were previously maintained on a cash basis, balances payable at 31 March 2024 were understated in the financial statements.

Loans & Overdrafts due after one year – An aspect of a grant previously received is repayable dependent on turnover, this was not recognised in the financial statements.

Deferred income – Grants received to fund fixed asset purchases were previously deferred and released over the useful life of the asset. The financial statements have been amended to recognise the grant income in full in the prior years.

Donations and legacies – Grants received to fund fixed asset purchases were previously deferred and released over the useful life of the asset. The financial statements have been amended to recognise the grant income in full in the prior years.

Charitable activities & Raising funds - Records were previously maintained on a cash basis, income and expenses unpaid at 31 March 2024 were not fully disclosed in the financial statements.

• 24 -