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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 09487276 (England and Wales) REGISTERED CHARITY NUMBER: 1172345

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

ENABLE LEISURE AND CULTURE

ENABLE LEISURE AND CULTURE

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022

Page
Reference and Administrative Details 1
Foreword from the Chair 2
Report of the Trustees 3 to 10
Report of the Independent Auditors 11 to 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 28

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

Reference and Administrative Details

Company Limited by Guarantee and Registered in England and Wales

Registered Company no: 09487276
Registered Charity no: 1172345
Registered office: The Park Offices, Battersea Park
Albert Bridge Road
London
SW11 4NJ
Trustees: CL Baillieu (Chair)
S L B Apps (appointed 3 October 2022)
NR Blackley
EAS Cohen
CL Frankl-Bertram
G Humphries (resigned 25 May 2022)
MK Pearson
MH Percy
P A Samengo-Turner (appointed 20 May 2022)
I R Stone (appointed 20 May 2022)
DM Watkins
Chief Executive: I Mitchell
Auditors: Haysmacintyre LLP
Chartered Accountants
10 Queen Street Place
London
EC4R 1AG
Bankers: National Westminster Bank plc
153 Putney High Street
Putney
London
SW15 1RX

Further details are available on the following websites:

The Company: https://enablelc.org/ Charity Commission: https://register-of-charities.charitycommission.gov.uk/charity-search/-/charity-details/5071333/charity-overview Companies House: https://find-and-update.company-information.service.gov.uk/company/09487276

Page 1

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

FOREWORD FROM THE CHAIR

It has been a landmark year for Enable. Growing out of the pandemic has been challenging for Enable and the communities we serve, but the process has brought the organisation together and created a robust and sustainable culture that has provided strong foundations for the future. This report provides an overview of the hard work delivered by the staff at Enable during the year; a talented team dedicated to providing excellent services in the community.

Following the lockdowns of 2020/21, Enable faced the further challenges of prolonged restrictions, uncertainty and consequent erratic consumer usage patterns. 2021/22 was planned as a year of development and growth but inevitably became focused on safely maintaining services with renewed agility, flexibility and innovation, and delivering value through efficiency and consolidation.

A priority for the Executive this year has been ensuring staff wellbeing. Whether returning from furlough or significant periods away from the office or service, the welfare of all staff has been a priority for the Board and measures were implemented during the year by the Executive to support mental wellbeing, improve flexibility, and to support the personal development of all staff.

Against this exceptional background, Enable has achieved great things this year, with particularly notable growth in Wellbeing, Leisure and Events. There was significant growth in Wandsworth and in addition we took on our first contracts in neighbouring Boroughs. We are pleased to have strengthened our working relationship with Wandsworth Council, working together to build resilience back into the community post Covid.

Alongside the delivery of the Wandsworth contract specification, the Enable team has been focused on creating additional value that builds new capacity to bring local communities together. Significant social value has been created and strong partnerships built, with connections made with over 180 voluntary community organisations during the year. These new relationships allow Enable to reach and support far more residents.

It is a privilege as Chair of Enable to see first-hand the positive change we create in the communities we serve, providing opportunities for all and developing an environment for inclusive and sustainable community activities.

As we reflect on last year, we are determined to be bold in our ambition for services across Wandsworth and the surrounding Boroughs. We are proud of what we are achieving across Wandsworth and increasingly beyond the Borough. We are confident our social business model offers the opportunity to further address the scale of need in communities that are currently facing uncertain economic conditions.

In this first fully operational year of the new five-year contract that Enable holds with Wandsworth Borough Council (1 April 2020 to 31 March 2025), the Board of Trustees would like to thank all Enable staff for the support and dedication they have given the organisation. It will be a challenging but rewarding period ahead for Enable and I have no doubt this will yield a similar level of success.

Page 2

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

ABOUT ENABLE

Enable Leisure and Culture (Enable) was established in 2015 for public benefit and was registered with the Charity Commission in March 2017.

As a charity we are a Non-Profit Distributing Organisation, working in partnership with councils, charities and other organisations to deliver, health, leisure, community services and events that enrich people’s lives.

AIM AND ACTIVITIES

Our Vision

We believe everyone can live a healthier, happier life through active participation in their communities supported by access to a range of free and affordable community facilities that improve the quality of life.

Our Mission

As a not-for-profit organisation:

How we do this

We deliver high quality community services including managing local parks, staging innovative public and private events, running sports and local facilities and organising local health and wellbeing programmes for our communities.

PRINCIPLE ACTIVITIES

Bereavement Services

The Bereavement team at Enable delivers a high-quality funeral service managing two crematoria, Putney Vale and North East Surrey, and also oversee three large cemeteries and two closed cemeteries. Supporting the bereaved is our priority but we are passionate about the environment and sustainability so use modern technologies to reduce emissions and ensure our crematoria are environmentally sustainable.

Community Development

We lead respond to the needs of the community, delivering programmes that reach out to local places and people, removing barriers and increasing access to activity. We engage and connect communities through volunteering and workforce opportunities, building skills and local capacity. We work in partnership with national, regional and local organisations, collaborating to ensure programmes are embedded. Our work facilitates and celebrates local success through competitions, awards ceremonies support groups, funding and bursaries which all contribute towards creating a lasting impact.

Event Production

Enable creates and hosts innovative imaginative large scale and community events in some of London’s most loved and visited green spaces. We produce and facilitate events in our varied venues that range from large parks to community halls. We help people achieve the weddings of their dreams, support local community group events and advise on how to manage events safely in public spaces. This equates to hundreds of events every year. We reinvest any surplus that we make back into our community to strengthen and enrich local people’s lives.

Film Office

The Enable Film Office offers a one-stop service for all filming needs in Wandsworth. We cover all professional filming and photography on Council land and public roads. Our work is guided by the principles of the London Filming Partnership. We work closely with the Council as well as the Metropolitan Police Film Unit, Transport for London, local residents, residents’ associations and community groups to ensure that filming operates safely, legally and smoothly whilst ensuring that the community benefit from the advantages of filming in their neighbourhood.

Health & Wellbeing

Our Health & Wellbeing team put the person at the centre of everything they do by building innovative programmes that address barriers to improved health. We support people to make lasting, sustainable changes to their lifestyle to improve health, wellbeing and quality of life. This reduces the burden on the NHS and public services whilst improving lives.

Page 3

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

PRINCIPLE ACTIVITIES (continued)

Parks & Open Spaces

The Enable Parks team is a passionate group who maintain and improve Wandsworth Council’s parks and other greenspaces. Our three specialist teams covering Trees, Operations and Parks Development work to deliver sustainable planting and urban greening by following the borough's Biodiversity Strategy and Tree Policy. We manage, value and enhance our landscapes which contribute to a healthy local environment and the wellbeing of our communities.

Putney School of Art and Design

The School was founded in 1883 and has been in Oxford Road, Putney since 1895. Today, managed by Enable and firmly rooted in the community, the school offers art and design courses which include specialised courses such as the Art and Design Diploma, community art classes that support older, isolated adults, a Family Learning programme where parents and children can learn and work together, and dedicated courses for young people. The school welcomes individuals of every level and ability and attracts students from all over London and beyond.

Sport and Leisure

Leisure has been a key component of Enable’s portfolio from the outset, and we are passionate about the provision of leisure in our community. We work to maintain and build the multiple community spaces throughout Wandsworth ranging from gyms and running tracks, to our grass pitches, tennis courts and rowing on the Thames. We develop and support communities through sport & physical activity by identifying opportunities and opening doors to help people become more active. We specialise in devising and delivering local programmes with lasting impact that complement our Wellbeing programmes.

OUR VALUES

Deliver better

Quality is at the heart of everything we do. We won’t cut corners and go all out to deliver our best, offering value for money and fulfilment for everyone involved.

Make things happen

We are driven to make change and get things done. Adaptable and flexible, we are responsive and quick to find better solutions.

Pull together

We are collaborative. Working together and in partnership, sharing our broad experience and expertise to do more to make a positive difference to people’s lives every day.

Think Smarter, achieve more

We are innovative. Our learning culture empowers us all, building on what is already happening in our communities. We seek out the gaps and find smart ways to make the biggest difference.

We serve our communities by:

Our volunteers

Throughout the period all members of the board of Trustees made valuable voluntary contributions to the Charity’s work in terms of governance, professional and business experience, financial planning, and fundraising. Such contributions were, on average, equivalent to one full day each calendar month but on occasion were much more.

Page 4

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

ACHIEVEMENT AND PERFORMANCE

2021 / 2022 strategic objectives

2021 / 2022 strategic achievements

Bereavement Services

Event Production

Filming Services

Health & Wellbeing Services

Parks Services

Putney School of Art and Design

Page 5

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

Our charitable purposes are defined by the requirement to improve the conditions of life and social welfare of all those who have need of such by reason of their youth, age, infirmity or disability, financial hardship or social circumstances. We do this through the medium of the wide range of services we are contracted to deliver.

To achieve this, we promote community activity and participation, manage and conserve outdoor spaces and improve the conditions of life for all those who use the facilities and spaces we manage.

Our 2021 – 2024 Strategy is focused on improving access to the services we operate, with the focus on delivering high quality free events, affordable indoor and outdoor leisure activities and providing cultural inclusive activities through a combination of all Enable services. We have also significantly enhanced our wellbeing offer and geographical reach across the Boroughs we serve with the development of Enable’s Social Prescribing service. This has enabled us to reach more people, improve lives and develop a community asset by building new access points to the service.

During this year we have focused on improving access and removing barriers for community entry into our services, taking the time to understand the demands and patterns of use so that we can fully support the communities we are working with.

Through this strategy we have achieved:

All the activities summarised above were undertaken to further our charitable purposes for public benefit. The provision of high-quality services for all responds to a clear, ongoing demand from users and the wider communities for accessible, high quality and affordable locally based activities.

The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

FINANCIAL REVIEW

Summary financial review

Since April 2021 the Charity has traded ahead of expectations (following the significant reduction in revenues in the previous financial year as a result of COVD) and remains cautiously optimistic about the future.

The Trustees have considered budgets and forecasts and are satisfied that there are no material uncertainties to the Charity’s status as a going concern.

There were no significant events during the year to report.

Year ending 31 March 22 Year ending 31 March 21
Income £ 13,870,000 £ 9,054,000
Expenditure £ 13,486,000 £ 8,788,000
Surplus(including restricted reserves) £ 384,000 £ 266,000

The surplus of £384,000 (£60,000 general and £324,000 restricted) in the year will increase the Charity’s reserves to ensure the organisation continues to hold a strong financial position and fulfil its reserves policy (outlined below).

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ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

FINANCIAL REVIEW (continued)

Reserves policy

As at 31st March 2022, Enable had total reserves of £1,181,000 (31 March 2021 £797,000) and net free reserves (general reserves less fixed assets) of £222,000 (31 March 2021 £243,000).

As at 31 March 2022 restricted funds were £735,000 (31 March 2021 £411,000), and general reserves were £447,000 (31 March 2021 £387,000). The restricted funds cannot be used for general charitable purposes and can only be used as specified by the donors. Designated funds (nil in both financial years) would represent reserves set aside by Trustees for specific purposes, although the Trustees can agree to undesignate these funds in the future if they so wish.

The Board of Trustees has established a reserves policy which appropriately reflects the risks to which the Charity is exposed. In compliance with such policy, it regularly reviews both the amount it wishes to hold in unrestricted reserves and the basis for that figure.

The reserves policy considers the cost of winding up the organisation (for example in the event of the Wandsworth Borough Council contracts not being renewed) along with on-going fixed costs (i.e. excluding variable costs and expenditure linked to restricted projects).

Based on the above policy, the Board considers £500,000 to be an appropriate minimum level of reserves to maintain. However, at the same time the Board acknowledges that given the nature of the organisation, general reserves will fluctuate below this level at certain times of the year. The Board monitors 12–18-month cashflow forecasts quarterly to ensure that the organisation always has sufficient level of operating cash.

Risk Management

The board have considered the principal risks facing the Charity which include:

An extensive risk register is established with specific mitigating actions; this register is reviewed quarterly by the Development and Finance Committees and then submitted to the board. This frequency is increased when consideration of new or changeable risks are required. The board also considers the relative impact of the mitigating actions and look to strengthen these where required.

Principle funding sources

Aside from the income generated by the grants and wellbeing services, the principal funding sources for the charity are currently by income generated from the Wandsworth Borough Council contract. As a result of increasing commitments of the concession fee payable to Wandsworth Borough Council, the Charity must seek funding from non-Wandsworth contract sources. The development of the Charity’s Wellbeing offer is proving particularly useful in identifying possible opportunities for a much wider range of funding for the future.

Investment policy

Whilst retaining a prudent amount in reserves each year, most of the charity’s funds are to be spent in the short term so there are few funds for long term investment.

However, given current inflation and rising interest rates and following consideration of current and future cashflow requirements, the Executive are currently reviewing an appropriate short term investment policy. This will be presented to the finance and audit committee in due course with appropriate implementation plans to follow.

Going Concern

The Financial Statements are prepared on a going concern basis.

The Trustees have reviewed the ability of the Charity to continue to operate as a going concern, the impact of inflation and other external environmental pressures in this review. After careful analysis of the Charity’s income, expenditure and unrestricted reserves, the Trustees are confident in the Charity’s ability to continue as a going concern.

Working with the Executive Group, the Trustees continue to maintain tight control of the fixed cost base and a clear line of sight of the financial health of the Charity. The Trustees assessment is that there are no known material uncertainties regarding the Charity’s ability to continue as a going concern for a timescale of at least 12 months from the date of signing of the Trustees’ Report and Financial Statements.

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ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

FINANCIAL REVIEW (continued)

Plans for future periods

During 2021/22 we launched Enable’s three-year strategy (April 2021 to March 2024), with an initial focus on developing Enable’s core services/products around supporting local communities, driving environmental improvements and ensuring a stable and sustainable platform for further growth aspirations.

The overall objective of the strategy is to deliver a versatile and sustainable organisation that:

Over the next 12 months we will progress into the development and delivery of year 2 of our strategy. Pushing forward with our reach into the Wandsworth community, developing further connections with Voluntary groups, expanding PSAD operations and listening to the requirements of the community.

We will strive to facilitate further community capacity building through removing barriers to entry, providing services that the community wants and creating opportunities for communities to connect where they live.

Restricted funds and delivery contracts

Throughout 2021/22 we were able to continue the delivery of several wellbeing /community restricted programmes, growing in strength and breadth and meeting all KPIs, monitoring and reporting targets for our clients.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

As a registered charity Enable is a “Non-Profit Distributing Organisation” limited by guarantee and does not have share capital. Any surplus of income over expenditure is retained by the Charity to support the development of its activities. Each member has undertaken to contribute an amount not exceeding one pound towards any deficit arising in the event of the company being wound up.

Organisation structure

The Company’s Memorandum and Articles of Association are its primary governing documents, which include a nondistribution clause of its income and property to its members.

The Board of Trustees and the Executive Group meet independently and together at least four times a year.

The Company Committees are as follows :

Finance and Audit Committee

Meetings are held at least four times a year, and its purpose is to ensure that there is effective financial management and reporting to the Board, with effective systems of internal control.

Development Committee

Meetings are held at least four times a year, and its purpose is to review operational matters and business development opportunities to ensure the organisation remains fit for purpose and thereby financially sustainable.

Nominations

Meetings are held on an as and when necessary basis to recruit new Trustees for Enable. The committee is formed of the chair and one Trustee responsible for Human Resources.

Remuneration

Meetings are held at least once a year, and its purpose is to review Executive pay to ensure that their remuneration remains competitive whilst appropriate given Enable’s charitable and financial status.

Appeals

Meetings are held on an as and when necessary basis to hear staff appeals against disciplinary, performance issues etc. It did not have to meet during the year.

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ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

The Executive Group is made up of the Chief Executive Officer and Chief Financial Officer. The Senior Management Team is made up of Head of Service staff from across the Company, and along with the Executive Group meets at least once a month to discuss company management issues.

The Company also has a staff Social and Wellbeing Group , which meets monthly. This group is designed to be an information sharing and consultative body with the ultimate objective of organising innovative and engaging well-being initiatives.

The Board of Trustees is independent from management.

Safeguarding

The Charity considers safeguarding as extremely important and can report that there have been no safeguarding issues in the year, nor since the Company was established in Oct 2015. Should any such issues occur, Enable has the relevant procedures to deal with, and to ensure that Trustees are made aware of them.

Fundraising

Funds are raised from the delivery of our charitable services and from putting on specific fund-raising events (e.g. Battersea Fireworks). No ‘professional fund raiser’ or ‘commercial participator’ is employed or contracted by the Charity in carrying out any of these activities. Enable is not regulated by the fundraising regulator.

Recruitment and appointment of Trustees

New Trustees are recruited according to the needs of the Charity and the suitability of possible candidates. Once the board are made aware of potential candidates, a thorough vetting process is undertaken to ensure the suitability of candidates before appointment. The vetting procedure is in line with the Charity Commission guidelines and includes searches of the insolvency and bankruptcy registers, Companies House register of disqualified Trustees, the completion of the Charity Commission Automatic Disqualification Declaration, an enhanced Disclosure and Barring Services check and a conflict-of-interest disclosure.

Following the satisfactory completion of all checks, a unanimous approval of existing Trustees is required to confirm a potential candidate’s appointment.

The Memorandum and Articles of Association states that the number of members is a maximum of 12. Full details of the rules are contained in the company’s Memorandum and Articles of Association, dated on incorporation on 12 March 2015.

Trustee induction and training

The induction of new Trustees may commence ahead of formal appointment (which is subject to the satisfactory completion of the vetting process mentioned above). Potential candidates are provided with various Charity Commission guidance documents (including Safeguarding, and ‘the Essential Trustee’ guidance), Enable’s safeguarding policy, a copy of the most recent set of Financial Statements and board packs, Social Media Policies (where applicable) and a copy of the Memorandum & Articles of Association.

Following appointment, new Trustees are provided with a comprehensive induction to Enable through the provision of inhouse training. The induction process has been adapted to include both remote and in-person sessions and new Trustees have participated in comprehensive handover meetings, where appropriate.

Related parties

None of our Trustees receive remuneration or other benefit from their work with the Charity. Any connection between a Trustee or senior executive with a competitor, supplier, or client of the Charity is required to be disclosed in writing to the Board of Trustees. No such disclosures have been made nor are the Trustees aware of any such connections.

Pay policy

The remuneration of the full staff team is reviewed annually by the Remunerations Committee and, if financial resources allow, generally increased in accordance with average earnings.

EVENTS SINCE THE END OF THE YEAR

There are no material post balance sheet events.

Page 9

ENABLE LEISURE AND CULTURE REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

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

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

In so far as the trustees are aware:

AUDITORS

The auditors, Haysmacintyre LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 22 December 2022 and signed on its behalf by:

.............................................................................. C L Baillieu - Trustee

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ENABLE LEISURE AND CULTURE

Independent auditor’s report to the members of Enable Leisure and Culture

Opinion

We have audited the financial statements of Enable Leisure and Culture for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report and the Chair’s message. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Trustees’ Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the Trustees’ Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ENABLE LEISURE AND CULTURE

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 10, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Thomas Wilson (Senior Statutory Auditor) 10 Queen Street Place
For and on behalf of Haysmacintyre LLP, Statutory Auditor London
Date: 22 December 2022 EC4R 1AG

Page 12

ENABLE LEISURE AND CULTURE

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

Unrestricted
Notes
funds
£
INCOME
Donations and legacies
General grants
2
-
Charitable activities
3
Bereavement services
3,087,916
Events and Filming
4,562,705
Health and wellbeing (including community
services)
738,647
Park services
193,802
Putney School of Art and Design
1,020,204
Sport and Leisure services
3,232,199
Other income
185,000
Total income
13,020,473
EXPENDITURE
Charitable activities
4-6
Bereavement services
1,575,311
Events and Filming
2,953,238
Health and wellbeing (including community services)
804,231
Park services
1,268,520
Putney School of Art and Design
1,097,500
Sport and Leisure services
2,457,507
Other
2,804,127
Total expenditure
12,960,434
NET INCOME
60,039
RECONCILIATION OF FUNDS
Total funds brought forward
386,670
TOTAL FUNDS CARRIED FORWARD
446,709		 Restricted
funds
£
498,985
-
-
348,677
1,887
-
-
849,549
-
-
287,065
3,657
-
-
234,837
525,559
323,990
410,572
734,562		 2022
Total
funds
£
498,985
3,087,916
4,562,705
1,087,324
195,689
1,020,204
3,232,199
185,000
13,870,022
1,575,311
2,953,238
1,091,296
1,272,177
1,097,500
2,457,507
3,038,964
13,485,993
384,029
797,242
1,181,271		 2021
Total
funds
£
223,200
3,491,856
1,965,153
704,378
165,564
432,701
1,009,414
1,062,283
9,054,549
1,061,204
1,905,751
783,952
1,246,704
579,198
1,366,790
1,844,703
8,788,302
266,247
530,995
797,242

There were no other recognised gains and losses other than those listed above and the net income for the year. All income relates to continuing operations.

Page 13 The notes form part of these financial statements

ENABLE LEISURE AND CULTURE

BALANCE SHEET as at 31 March 2022

Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Stocks
12
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS/(LIABILITIES)
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2022
£
224,617
9,872
2,326,490
3,279,847
5,616,209
(4,184,555)
1,431,654
1,656,271
(475,000)
1,181,271
446,709
734,562
1,181,271		 2021
£
143,732
9,872
1,794,570
2,167,391
3,971,833
(2,693,323)
1,278,510
1,422,242
(625,000)
797,242
386,669
410,573
797,242

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

The financial statements were approved by the Board of Trustees and authorised for issue on 22 December 2022 and were signed on its behalf by:

............................................. M H Percy - Trustee

Registered Company Number: 09487276 Charity Number: 1172345

Page 14 The notes form part of these financial statements

ENABLE LEISURE AND CULTURE

CASH FLOW STATEMENT for the Year Ended 31 March 2022

Notes
Cash flows from operating activities
Cash generated from operations
A
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Interest paid
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 2022
£
1,437,152
1,437,152
(180,943)
(180,943)
-
(125,000)
(18,753)
(143,753)
1,112,456
2,167,391
3,279,847		 2021
£
728,168
728,168
(86,832)
(86,832)
750,000
-
-
750,000
1,391,336
776,055
2,167,391

Page 15 The notes form part of these financial statements

ENABLE LEISURE AND CULTURE

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 March 2022

A. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest paid
Increase in debtors
Increase in creditors
Net cash provided by operations		 2022
£
384,028
100,058
18,753
(531,921)
1,466,234
1,437,152		 2021
£
266,247
105,695
-
(257,265)
613,491
728,168

B. ANALYSIS OF CHANGES IN NET DEBT

Cash
Loans falling due within one year
Loans falling due after more than one year
Total		 At start
of the year
£
Cash
Flows
£
Other non-
cash changes
£
At end
of year
£
2,167,391
1,112,456
-
3,279,847
(125,000)
-
(25,000)
(150,000)
(625,000)
150,000
-
(475,000)
1,417,391
1,262,456
(25,000)
2,654,847

Page 16

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Enable Leisure and Culture is a company limited by guarantee registered in England and Wales for the purposes of Company Law. Enable is registered with the Charity Commission of England and Wales (Charity number: 1172345). Its registered office is The Park Offices, Battersea Park, Albert Bridge Road, London, SW11 4NJ.

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

The financial statements have been prepared to give a 'true and fair' view.

Enable Leisure and Culture Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in sterling (GB£).

Going concern

The Trustees have considered budgets and forecasts in light of the current financial climate and are satisfied that there are no material uncertainties to the Company's status as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

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

Critical areas of judgment:

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Accrued income

Represents income generated from sites during the financial year, but not yet received until after the year end. The management's judgment is involved in the estimate of accrual and deferral of income and their completeness.

Deferred income

Represents income generated from sites during the year that did not relate to the financial year. The management's judgment is involved in the estimate of accrual and deferral of income and their completeness.

Legal form

The charity is a company limited by guarantee. It was registered in England and Wales and the address of its registered office is The Park Offices, Battersea Park, Albert Bridge Road, London, SW11 4NJ. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The charity operates around the Wandsworth area.

Page 17

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Income

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

Income is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised,

Bereavement services

Bereavement income included crematorium and burial fees. They are recognised in the period to which they relate.

Event and Filming

Event and Filming income included letting income, project income, and event entrance fees. They are recognised in the period to which they relate.

Health and Wellbeing (including community services)

Health and Wellbeing income included service fees and project income. They are recognised in the period to which they relate.

Park services

Park services included project income and allotment fees. They are recognised in the period to which they relate.

Putney School of Arts and Design (PSAD)

Putney School of Arts and Design income included revenue generated from course fees, sale of arts supplies, and a café. They are recognised in the period to which they relate.

Sports and Leisure

Sports and Leisure includes membership and rental income. They are recognised in the period to which they relate.

Other income

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - 33% on cost Motor vehicles - 33% on cost Computer equipment - 33% on cost

All assets costing more than £500 are capitalised.

The Company was gifted 6 motor vehicles upon incorporation. Their net book values are considered to be trivial. A nominal value of £1 per vehicle is introduced on the accounts. They are currently not depreciated.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 18

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Pensions

Retirement benefits to employees of the Group are provided by the Local Government Pension Scheme (LGPS) as operated by Wandsworth Borough Council. The LGPS is a funded defined benefit pension scheme whose assets are held separately from those of the Group.

The Group operates a risk share approach in relation to pensions with Wandsworth Borough Council. The scheme is fully funded at the commencement date. The company will only be liable for changes to the Employer Contribution Rate if, and to the extent these arise as a result of a 'Concessionaire Decision'. The company will only be liable for accrued deficit at exit if, and, to the extent it arises from a Concessionaire Decision.

Accordingly, the Group accounts for pension contributions payable as if the LGPS was a defined contribution pension scheme. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations, except as disclosed in the notes to the accounts.

The contributions are recognised as an expense in the Consolidated statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 19

continued...

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

2. GRANT INCOME

Arts Council England
Evolution		 2022
2021
£
£
148,985
223,200
350,000
-
498,985
223,200

3. INCOME FROM CHARITABLE ACTIVITIES

Bereavement services
Events and Filming
Health and Wellbeing including community development
Park Services
Putney School of Art & Design
Sports and Leisure Services		 2022
2021
£
£
3,087,916
3,491,856
4,562,705
1,965,153
1,087,324
704,378
195,688
165,564
1,020,204
432,701
3,232,199
1,009,413
13,186,036
7,769,065

4. CHARITABLE ACTIVITIES COSTS

2022
Bereavement services
Events and Filming
Health and Wellbeing including community development
Park Services
Putney School of Art & Design
Sports and Leisure Services
Central Support		 Direct costs
(see note 5)
£
Support
costs
(see note 6)
£
2022
Total costs
£
1,575,311
-
1,575,311
2,953,238
-
2,953,238
1,091,296
-
1,091,296
1,272,177
-
1,272,177
1,097,500
-
1,097,500
2,457,507
-
2,457,507
-
3,038,964
3,038,964
10,447,029
3,038,964
13,485,993
2021
Bereavement services
Events and Filming
Health and Wellbeing including community development
Park Services
Putney School of Art & Design
Sports and Leisure Services
Central Support		 Direct costs
(see note 5)
£
Support
costs
(see note 6)
£
2021
Total costs
£
1,061,204
-
1,061,204
1,905,751
-
1,905,751
783,952
-
783,952
1,246,704
-
1,246,704
579,198
-
579,198
1,366,790
-
1,366,790
-
1,844,704
1,844,704
6,943,599
1,844,704
8,788,303

Page 20

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff Costs
Cost of sales
Consultant and project delivery
Equipment
Building and maintenance
Communications and marketing
Insurance
IT and comms
Administration and professional fees
Concession fee
Depreciation
Loan interest
Other		 2022
2021
£
£
5,308,335
4,108,941
666,980
202,940
730,005
1,441,839
311,902
89,647
857,234
683,656
84,043
22,338
61,620
2,777
214,150
147,330
294,533
184,361
1,832,018
-
77,309
57,688
-
-
8,900
2,081
10,447,029
6,943,598

6. SUPPORT COSTS

Staff costs
Consultant and project delivery
Equipment
Building and maintenance
Communications and marketing
Insurance
IT and comms
Administration and professional fees
Irrecoverable VAT
Depreciation
Loan interest
Other
Governance
(Included within support costs)		 2022
2021
£
£
1,257,412
871,597
205,389
46,134
21,573
1,000
619,084
57,955
65,200
80,373
68,607
49,818
35,372
91,543
129,742
137,338
593,473
441,882
24,359
48,008
18,753
-
-
19,056
3,038,964
1,844,704
62,684
67,375

Governance costs relate to recruitment cost of trustees and trustee training costs.

Page 21

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

7. NET INCOME

Net income is stated after charging:

Auditors' remuneration – audit services
Auditors’ remuneration – non audit services
Depreciation - owned assets		 2022
£
22,950
1,950
100,058		 2021
£
15,900
-
105,696

8. TRUSTEES' REMUNERATION AND BENEFITS

No trustees received remuneration or benefits in kind for their services as a trustee during the year (nor for the period ended 31 March 2021). However, during the period one trustee received remuneration of £59,087 (2021: £56,170 - two trustees) in their operational capacity.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the period ended 31 March 2021.

9. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2022
£
5,385,861
463,240
406,646
6,255,747		 2021
£
4,181,616
342,359
368,126
4,892,101

The average monthly number of employees during the year was as follows:

2022
Full time equivalent
140
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000
2022
£80,001 - £90,000
1
£110,001 - £120,000
-
£120,001 - £130,000
1		 2021
143
was:
2021
-
1
-

During the period, key management personnel, which comprise the trustees, chief executive officer and chief financial officer, received remuneration (including pension contributions payable) totalling £293,100 (2021: £221,509).

Page 22

continued...

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


INCOME
Donations and legacies
General grants
Charitable activities
Bereavement services
Events and Filming
Health and wellbeing (including community
services)
Park services
Putney School of Art and Design
Sport and Leisure services
Other income
Total income
EXPENDITURE
Charitable activities
Bereavement services
Events and Filming
Health and wellbeing (including community services)
Park services
Putney School of Art and Design
Sport and Leisure services
Other
Total expenditure
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
-
3,491,856
1,965,153
445,562
140,595
432,701
1,009,414
1,062,284
8,547,565
1,061,204
1,905,751
616,452
1,228,196
579,198
1,366,790
1,832,556
8,590,147
(42,582)
429,252
386,670		 Restricted
funds
£
223,200
-
-
258,816
24,968
-
-
-
506,984
-
-
167,500
18,508
-
-
12,147
198,155
308,829
101,743
410,572		 2021
Total
funds
£
223,200
3,491,856
1,965,153
704,378
165,563
432,701
1,009,414
1,062,284
9,054,549
1,061,204
1,905,751
783,952
1,246,704
579,198
1,366,790
1,844,703
8,788,302
266,247
530,995
797,242

Page 23

continued...

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

11. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021		 Short
leasehold
£
84,121
60,454
144,575
73,561
19,463
93,024
51,551
10,560		 Fixtures
and
fittings
£
6,099
15,007
21,106
5,774
2,309
8,083
13,023
325		 Motor
Computer
vehicles
equipment
£
£
21,065
357,634
18,361
87,121
39,426
444,755
12,026
233,826
7,234
71,052
19,260
304,878
20,166
139,877
9,039
123,808		 Totals
£
468,919
180,943
649,862
325,187
100,058
425,245
224,617
143,732

12. STOCKS

2022 2021
£ £
Stocks 9,872 9,872

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments and accrued income		 2022
2021
£
£
1,832,560
1,387,898
87,025
22,710
13,501
5,281
393,404
378,681
2,326,490
1,794,570

Page 24

continued...

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Deferred Income
At 1 April
Deferred in the year
Released in the year
At 31 March
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year:
Bank loan
Amounts falling due in more than one year
1 to 5 years
Over 5 years		 2022
£
150,000
1,588,314
132,379
139,672
2,174,190
4,184,555
2022
657,556
4,806,882
4,331,176
1,133,262
2022
£
475,000
2022
£
150,000
475,000
-		 2022
£
150,000
1,588,314
132,379
139,672
2,174,190
4,184,555
2022
657,556
4,806,882
4,331,176
1,133,262
2022
£
475,000
2022
£
150,000
475,000
-		 2021
£
125,000
911,264
78,046
48,724
1,530,289
2,693,323
2021
637,348
1,782,805
1,762,597
657,556
2021
£
625,000
2021
£
125,000
600,000
25,000		 2021
£
125,000
911,264
78,046
48,724
1,530,289
2,693,323
2021
637,348
1,782,805
1,762,597
657,556
2021
£
625,000
2021
£
125,000
600,000
25,000
625,000 750,000

The bank loan is a Coronavirus Business Interruption Loan and was drawn down on 21 May 2020. The loan was interest free for the first 12 months then reverting to interest at 3% over base rate.

Repayments (starting one year from drawdown) are in 60 equal monthly instalments, meaning as at 31 March 2022 £150,000 was repayable within one year and £475,000 in between 1 and 5 years. The loan can be repaid (in part or in full) at any point during the six-year term with no early payment charge arising.

Page 25

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

17. MOVEMENT IN FUNDS

2022

Unrestricted funds
General fund
Fixed Assets
Restricted funds
Sports
Bench donations
Parks
Arts Council England
Community Development
Health and Wellbeing
TOTAL FUNDS
2021
Unrestricted funds
General fund
Fixed Assets
Restricted funds
Sports
Bench donations
Parks
Arts Council England
TOTAL FUNDS		 Balance
1 April
2021
£
Income
£
Expenditure
£
Transfer
between
funds
£
Balance
31 March
2022
£
242,938
13,020,473 (12,860,376)
(180,943)
222,092
143,732
-
(100,058)
180,943
224,617
386,670
13,020,473 (12,960,434)
-
446,709
157,893
-
-
(157,893)
-
4,503
-
-
(4,503)
-
37,124
1,886
(3,657)
(15,942)
19,411
211,053
148,985
(234,837)
-
125,201
-
427,918
(25,214)
23,246
425,950
-
270,760
(261,851)
155,092
164,001
410,572
849,549
(525,559)
-
734,562
797,242
13,870,022 (13,485,993)
-
1,181,271
Balance
1 April
2020
£
Income
£
Expenditure
£
Transfer
between
funds
£
Balance
31 March
2021
£
266,657
8,547,564
(8,484,452)
(86,832)
242,937
162,595
-
(105,695)
86,832
143,732
429,252
8,547,564
(8,590,147)
-
386,669
82,519
257,415
(182,041)
-
157,893
4,503
-
-
-
4,503
14,721
26,370
(3,967)
-
37,124
-
223,200
(12,147)
-
211,053
101,743
506,985
(198,155)
410,573
530,995
9,054,549
(8,788,302)
-
797,242

Page 26

ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

17. MOVEMENT IN FUNDS (continued)

Restricted funds

Arts Council covid recovery grant was for capital and programme costs in relation to PSAD online courses, community events and marketing costs associated with these. This included e-commerce for event ticketing, digital design and promotion, and website development for the organisation. These reserves will be fully spent by 31 March 2023.

Evolution London grant (included within the community development fund) was for programmes and capital expenditure (at the discretion of the trustees) to aid Enable in delivering its charitable objectives to the local community. It is envisaged these specific reserves will be fully expended by 31 March 2023.

Restricted funds in relation to Parks, Health and Wellbeing and Community Development represents amounts restricted to delivering our specific programmes in these areas. It is envisaged these specific funds will be fully expended by 31 March 2023.

Note: the ‘classification’ of the restricted funds were restated in the 2022 financial statements to better reflect the restricted charitable activities in the year

Designated funds

The Fixed Asset fund represents the net book value of assets.

18. NET ASSETS BY FUND

Tangible Fixed Assets
Current assets / liabilities
Liabilities over 1 year		 Unrestricted
General
fund
£
Unrestricted
Fixed Asset
fund
£
Restricted
funds
£
Total
funds
£
-
224,617
-
224,617
697,093
-
734,561
1,431,654
(475,000)
-
-
(475,000)
222,093
224,617
734,561
1,181,271

19. EMPLOYEE BENEFIT OBLIGATIONS

Retirement benefits to employees of the Group are provided by the Local Government Pension Scheme (LGPS) as operated by Wandsworth Borough Council. The LGPS is a funded defined benefit pension scheme whose assets are held separately from those of the Group.

The Group operates a risk share approach in relation to pensions with Wandsworth Borough Council. The scheme is fully funded at the commencement date. The company will only be liable for changes to the Employer Contribution Rate if, and to the extent these arise as a result of a 'Concessionaire Decision'. The company will only be liable for accrued deficit at exit if, and, to the extent it arises from a Concessionaire Decision.

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

21. OPERATING LEASE COMMITMENT

2022 2021
Within 1 year 6,700 -

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ENABLE LEISURE AND CULTURE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

22. POST BALANCE SHEET EVENTS

There are no material post balance sheet events.

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