Company registration number.. 10662971 Chanty registration number.. 1175947 Grimsby Ice Rink IA Company limrted by guarantee) Annual Report and Finanual Statements for the Year Ended 31 August 2020 Forrester Boyd 26 South Saint Mary's Gale Grimsby North East Lincolnshire DN31 1LW AABS146G* 27108r2021 COMPANIES HOUSE A14
Grimsby Ice Rink Contsnts Reference and Administrative Detsils Trustees, Report 2to4 ststemenl of Trustees, Responsibi1rtS Independent Examinerfs Report Statement of Financial Ath"vtties 7t08 Balance Sheet Notes lo the Financial Ststements 10t021
Grimsby Ice Rink Reference and Administrative Detsils Trustees C Alan J Routh R Newbom Prlnclpal Offtce Rear of Grim5by Leisure Centre Cromwell Road Grimsby North East Lincolnshire DN31 2BH Reglstered OffSce 26 South Saint Mary's Gate Grim$by North East kn"ncolnshire DN31 1LW The charity is incorporated in United Kingdom. Company Re9iStration Number 10662971 Charity Registratton Number 1175947 Independent Examiner Forrester Boyd 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW Page 1
Grimsby Ice Rink Trustees. Report The tTUStees, who are directors for the purposes of company law, present the annual report togelher with the financial slalemenls of the charilable company for the year ended 31 Augijst 2020. Objectives and activities Objects and aims Grimsby Ice Rink is Committed to contsnuing the proviSn of sports for North East Lincolnshire and the surfounding areas. This includes the continuation of Ice Hockey training and matches, figure skating training and recreats'onal skatsng. Our aims.. ' To rnake ice sports accessible for all ' To increase the number of people enjoying te sports To promote a healthier lrfestyle by the inclusn of people in i¢e sports To promote the fa¢ility for North East Lin1n$h1re and the wider area ' To expand the ice skating communty FundroiTsing disclosures Grim5by I Rink has apwoached fundraising in a number of ways these include". Sale of dasher boards as adverb.sing lo Ictal businesses. This was promoted by emailing local trmjsinesses and promoting on social media. Free Ice hockey experience sessions Reduced price themed discos Stsff do not ask for donations, but a donations pol is on the desk if people wouhj like lo donate. Publlc benefit Grimsby Ice Rink has also enabled more schools and comm4Jnity groups to hire the facility or come lo public sessions for a reduced fee. This has led to a number of bookings. Promobons have been offered during the year incfuding the followirKJ'. Free skate aids during certain holiday perS Free lee skate hire leaflets Free adult wrth each Child on the lots session Social media giveaways of a free family skale . Gifts to schools and local companies of a free famity pass to giveaway The trustees confirm that they have complied with the requireEnts of section 17 of the Charities Act 2011 to have due regard to the public benefit guKJance published by the Charity Commission for England and Wales. Due to ¢ovid, the I rink has been shLrt for most of the year. and has had lo run sessi)ns on limited numbers. and Iherefore rrts)st the sessions have been reduced or removed to comply with govemmenl and irE rink regulab"ons. Page 2
Grimsby Ice Rink Trustee¥. R•port Achlevements and perfomiance Grimsby Ice Rink has joined IRMA Ilce Rink Managers As%)ciatr"onl whth acts as a support neOrk of nnks across the county. This has allowed our staff to visil other rinks for training and we have also benefited from another manger within the associatKM visits.ng us for a day lo revw how we operate and suggest improvements. We were also chosen by Bntish Ice skab.ng (regutatory t*)dyl lo be used to trail new courses. We have also beneffted from nathy)al publi¢ty as Inrs Dancing on l¢e used the rink as a training facility. Grimsby Ice Rink has approached fundraising in a number of ways these include". Sale of dasher boards as adverb'sing to businesses. Thi% was prOnted by emailing local businesses and pronKSting on social media. . Free Ice hockey experien sess¢ons Bringing in Ex NHL hockey skater to run a half term hockey sth¢)ol, also Dancing on Ice star to do a skate Camp. . Reduced price themed discos Father Christmas on his slewjh meets durirvj one of our Chrislmas sessions. . Stsff do not ask for dOnatn$. but a donations pot is on the desk rf peopk would like to donate. Financial review During the year, the charity has generated a net deficit of £33,883 which is wholty made up of unreslncted funds, and is covered by the reserves brought fopward. The balance in the reserves can be.used for any of the chanty's charitabk purposes. Pollcy on reserves Reserves currently stand at £12.070 made up of wholly unrestitted funds. The charity aims to build reserves to cover at least 3 month's of fixed costs. Going eoncem The charity has been impacted by Covid-19 due to the dosure of the rink in March. At the time of closure. we had already closed for maintenance due to an issue on the I pad. Al the lime of sign off we still do not have a date for opening. Ouring this period, we have lost approximatety 40% of our revenue. We have treen able lo reduce our overheads. lo lessen the impact of CovKI-19 by". fudoughing 7 out of 9 members of staff, switched off the plant to reduce eleclricrty charges Iwhth is one of our largest expenses}, we have obtained the £10k small business grant. and we have also obtainett a £50k bounce back loan to enable us to update the facility for when we open. whtt will help us increase our revenue. We also look a payment holiday on the Ice resurfacer for 3 months and the government have provided additional financial support during Spring and suMffr 2020 to help fijnd some of the charity's overhead costs. We are currently looking al further grants which we can uts.lise to support the charity. Page 3
Grimsby Ice Rink Trustees. Report Structure, governance and management Nature of governing document Grimsby Ice Rink is an independent not for Pfofft Charitab company limited by guarantee, sel up to . deliver an Ice Sports facilty in and around North East Lincolnshire. The liability in respecl of the guarantee is limited to £10 per member of the Charitable company. In Novernber 2017 the company received Charrtab stalus. and adopted a new Articth of Association. Recruitment and appointment of trusfe•s The charitsble company has recruited the trustees from the Grirn5by Ice Rink Cofflmunity Group, which is a group that consists of skaters. pants and coaches. This was formed to save the Ice Rink from closure by the Council and prepared a community asset transfer lo take over the running of the faolity. The existing trustees have a range of backgrounds and skills that reflect the Charitsble company s operations and wider obiectwes. Any further recruitment of trustees will lollow a process of application and interview, and subiect Ihe final proposal al the approprk3te t*)ard meeting. a vote is undertaken and the appoinlmenl duty reported. The annual report was approved by the trustees of the charity on 26 August 2021 and signed on ils behalf by: J Roulh Trustee Page 4
Grimsby Ice Rink Statement of Trustees. Respon$lbS11ti•s The Iruslees (who are also the directors of Grimsby I Rink for the purposes of company lawl are responsible for Pfeparing the trustees. report and the financial ststemenls in accordance with the United Kingdom A¢¢ounting Stan¢Jards (Unrted Kingdom Generalty Accepted A¢¢ounting Pracli¢el and applicable law and regulab"ons. Company law requires the tnjstees to prepare financial statements for each financial year. Under company law the trustees musl not approve the financAI statements unless they. are satisfied that they give a true and fair view of the slate of affairs of the chantable company and of its incoming resources and applicalion of resources, including its income and expenditure, for that period. In preparing these financial slatemenls, the trustees are required to". select suitsble accountsng pOlS and apkly Ihem consistently. obseNe the methods and prInc[p in Charities SORP,. make judgements and estimales that are reasonab and prudent.. stste whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial ststenI$., and prepare the financial stalemenls on the going concem basis unless il is inappropriate to presume that the charitable company will conb.nue in business_ The tnjstees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disdose with reasonable accuracy at any time the financial position of the charitsble company and enable them to ensure Ihal the financial statements comply with the Companies Act 20(. They afe also responsible for safeguarding the assets of the ¢harilable company and hence for taking ¥sonab steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the ¢harty on 26 August 2021 and sned on rts behalf by: J Routh Trustee Page 5
Grimsby Ice Rink Independent Examinerfs Report to the trustees of Grimsby Ice Rink I report lo the charity trustees on my examination of the a¢¢ounts of the charity for the year ended 31 Augusl 2020 which are set out on pages 7 to 21. Respective responsibilities of trustees and examiner As the charity's trustees of Grimsby Ice Rink land a150 its director5 for the purposes of company lawl you are responsible for the preparab'on of the accounts in accordance wrth the requirements of the CompanEs Act 2006 ('Ihe 20C6 Act'i Having saltsfied myself that the accounts of Grimsby Ice Rink are not required to be audited under Part 16 of the 2006 Act and a e[ible fN Independent examinabon. I report In respect of my examinatK)n of your ¢harity's a¢¢ounls a5 carried out under secb.on 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)Ibl of the 2011 ACL Independent examiner'$ statem¢nt I have completed my examinalton. I Confi that no matters have come lo my attentn in connection with the examination giving me cause to believe that in any material respect.. 1. accounting records We not kept in respect of Grimsby Ice Rink as required by secbon 386 of the 2006 Act; or 2. the a¢nIS do not accord wth those recoTds'. or 3. the accounts do not comply with the a¢¢ounting requirements of section 396 of the 2006 Act other than any requirement that the a¢¢ounts give a 'true and fair vw. which is not a matter considered as part of an independent examination". or 4. the accounts have not been prepared in accordance wrth the methods and principles of the ststement of Recommended Prath"ce for accounbng and reporting by charities lapplicable lo chanlies preparing their accounts in accordance wf(h the Financial Reporting Standard applicable in the UK and Repuljic of Ireland IFRS 10211- I have no concems and have come across no other matters in connection with the examination to which attention Suld te drawn in this reFOrt in order to enable a proper understanding of the accounts lo be reached. Kevin Hopper AC Forrester Boyd 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW 26 August 2021 Page 6
Grimsby Ice Rink Stat•m•nt of Financial Activities for the Year Ended 31 August 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses Unrestricted funds Restricted funds Total 2020 Note Income and Endowm¢nts from: Donalions and legacies Charitable activities Other trading activities Inveslmenl income 26.042 120,692 11,544 118 26.042 120,692 11,544 118 Total income 158.3 158.3 Expenditure on: Raising fijnds Charitable activities 16.918) {185,0001 16,918) 185,361 Total expendrture 191,918 192,279 Net expenditure Transfers beeen funds {33,5221 361 (3611 133,8831 Net movement in funds {33,8831 {33.8831 Reconciliation of funds Totsl funds brought fomard 45,953 45.953 Totsl fvnds carried forward 22 12,070 12.070 The notes on pages 10 to 21 fom an integral part of these financial stslements. Page 7
Grimsby Ice Rink Ststement of Financial Activities for the Year Ended 31 August 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted nds Total 2019 Restricted Note Income and Endowments from: DonatnS and legacies Charitae activit$ Other Ifading aclivib.es Inveslmenl income 1,360 207,034 20,914 108 207.034 20.914 Total income 229.416 229.416 Expenditure on: Raising funds Charitable activities 113.194) (201,3701 113,1941 202,972 {1,602 Totsl exFendrture Net in¢omellexpenditure} Transfers ben fvnds 214.564 1,602 (216.1661 14.852 1.602 11,6021 1.602 13,250 Net movement in fvnds 13.250 13,250 Reconciliation of funds Total funds brought forward Total lunds carrd forward 32,703 32,703 45,953 45,953 The notes pages 10 to 21 ftym an integral part of these financial StalennIS. Page 8
Grimsby Ice Rink (Registration number: 10662971) Balance Sheet as at 31 August 2020 2020 2019 Flxed assets Tangible ossels 16 13.876 23,093 Current assets Stocks Debtors Cash at bank and in hand 17 18 2,345 12,775 81,679 1,5S9 3,923 105.512 96,799 110,994 Creditorn: Amounts falling due wilhin one year Net current assets 19 50.957 81.648 45,842 29.346 Total assets less current liabilities 59,718 52,439 (6,486 Creditors: Amounts falling due aft¢f more than one year 20 Net assets 148.333 11.385 45,953 Funds of the charlty: Unrestricted income funds Unresllicled 12,070 45,953 Total funds 22 12,070 45,953 For the financial year ending 31 August 2020 the charity was entitled to exemptson from audit under section 477 of the CompanEs Act 2006 reL8tiTrJ to small companies. Oirectors, responsibililEs'. The members have nol required the charity to obtain an audrt of its Ounts for the year in question in accordance with section 476.. and The directors a¢knowledge their responsibilrties for comptying with the requirements of the Act with respect lo accounts.ng records and the preparatton of accounts. These acunt$ have been prepared in accordance with the provisions applicable to companies subject to the small wnpanie5 regime. The financial statements on pages 7 10 21 were approved by the trnstees. and authorised for issue on 26 August 2021 and signed on their behalf by.. J Roulh Trustee The notes on pages 10 to 21 form an integral part of these financ1 statements. Page 9
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 1 Charity status The ¢harity is Iirniled by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the trustees is liable to contn.bule an aK*unt not exceeding £10 towards the assets of the charity in the event of IiquKlaty"on. The address of its registered office is". 26 South Saint Mary's Gale Grimsby North East Lincolnshire DN31 1LW The principal place of busines$ is- Rear of Grimsby Leisure Centre Cromwell Road Grimsby North East Lincolnshire DN31 2BH These financial statements were authori5ed for issue by the trustee5 ¢Jn 26 August 2021. 2 Ae¢ounling policies Summary of signifant accounting policies and key accounting estim•tes The principal accounting policies applied in the preparatson of Ihese financial ststements are sel out below. These policies have been consistenuy applied to all the years presented, unless otherwise staled. Statement of compliance The financial statements have been prepared in accordance Accountsng and Reporting by Charities. Slalement of Recommended Pracbce applicable to chantS preparing their accounts in cordance with the Financial Rewrting Standard appluble in the UK and Republtc of Ireland IFRS 1021 {effeclive 1 January 2019) {Charilies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). They also comply with the Companies Act 2006 and Charitw Act 2011. Basis of prepardtion Grimsby I Rink rreets the definrt)n of a publi¢ benefft enbty under FRS 102. Assets and liabilities are Initial re¢ognised at historical Cost or transaction value unb55 otherwise slated in the relevant accounting policy notes. The financial statements cover the indNidual enty, Grimsby Ice Rink. The financial slaternenls are presented in sterling and rounded lo the nearest pound. Page 10
Grimsby lee Rink Notes to the Financial Statements for the Year Ended 31 August 2020 Going concern Specifically in nneCts.0 with the current economic climate. the trustees have considered the impact of COVID-19 on the charity and they are Satisf that Ihe charity has sufficient financial headroom lo continue trading for al least the next Iwelve months. For thLS reason the financial statements have been prepared on a going concern basis. Income and endowments All income is recognised once the chanty has ents"Ilement to the income. it is probable that the income will be received and the amount of the income receivable can be measured reliably. l)onations and legacies Donations are recognised when the charity has been notrfd in wribng of both the amount and settlement date. In the event that 2 dOnatn is subieet lo condits.ons that requi a level of performance by the ehanty before the charity is entitled to the funds. the income is deferred and not recognised until either those Condit)n$ are fully met. or the fvlfilment of those ¢ondibons Is wholly within the control of the charity and rt is probable that these conditions will be fuffilled in the reF)oth'ng period. Grants ro¢8ivoble Grants a re¢ognised when tr charity has an enbwemenl to the funds and any conditions linked lo the grants have been mel performance conditKJns are attached to the grant and are yel to be mel, the income is re¢ognised as a liability and included the balance sheet as deferred Income lo be released. Investment income Dividends are recognised once the dNidend has been declared and nolfficats'on has been received of the dividend due. Expenditure All eXpelld1re is recognised once there is a legal or constructive obligation to that expenditure, il is probable settlement is required and the amount can be rrEasured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to parbcular headings they have been alICated on a basis consislenl with the use of resources, wth central stsff costs allocated on the basis of time spent, and depreciation ¢harges allocated on the POrtn of the assevs use. Other support costs are alk)caled based on the spread of staff costs. Raising funds These are costs incurred in attrath.ng voluntary income. the management of investments and those incurred in trading activities that raise funds. Charitable activities Chanlable expenditure comprises those costs incurred by the charity in the delNery of ils activities and services for its beneficiaries. It includes tx)th costs that can be alICated directly to such activities and those costs of an indirect nature necessary lo supp)rt them. Page 11
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 Support costs Support costs include central functKJns and have been allated to aclNity cost Categories on a basis consistent with the use ol resources. for example, allocating property costs by floor areas. or per capita, staff costs by the b.me spent and other costs by their usage. Govemance costs These include the costs attributable to the charity's complk4nce wrth constitutional and statutory requirements. including audiL strategic management and trustees's meetings and reimbursed expenses. Governm¢n¢ grants Government grants are recognised based on the accrual mc*Jel and are measured at the fair value of the asset received or receivable. Grants are classified as relating either lo revenue or lo assets. Grants relating to revenue are recognised in income over the period in which the related costs are re¢ogni$ed Grants relab.ng lo assets are recognised over the expected useful life of the asset. Where part of a grant relatsng to an asset B deferred. il is recc43nised as deferred income. Taxation The charity is considered lo pass Ihe tests set in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a chantable company for UK corporation tax purposes. Accordingly, the charity is wtentialty exempl from laxalion in res1 of income or capital gains received wilhin categories covered by Chapler 3 Part 11 of the CorpOran Tax Act 2010 or Section 256 of the Taxalton of Chargeable Gains Act 1992. to the exlenl that such income or gains are applied ex¢lu$ivety to ¢haritable purpose$. Tangible fixed assots Individual fixed assets costing £1.(hJO.00 or more are initsalty recorded al cost Depreciation and amortisatlon Depreciation is provided on langibje fixed assets so as to write off the cost or valuation, less any estimated sIdUal value, over their expected usefvl economt lrfe as follows.. Asset class Office equipment Plant and machinery Depreciation meth¢)d and rate 20°k straight line 20% straKJht line 133% straight line Sto¢k Stock is valued at the lower of cost and estimaled selling price less costs to complete and sell. after due regard for obsolele and sk)w moving stccks. Cost is deternined using the firsl-in, first-oul IFIFO}. Page 12
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 Trade debtovs Trade debtors are amounts due from customers for merchandise sold or Servi performed in the ordinary course of business. Trade debtors are recognised iniknalty at the transacth)n pric£. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able lo collect all amounls due according to the orvJinal terms of the receivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deFQSits. Trade creditors Trade creditors are obligations to pay foi goods or SerVS that have been acquired in the ordinary course of business from suppliers. Accounts payable are cL3SStfied as current liabilities if the charity does not have an unconditional right, at the end of the reporting penod, to defer settlement of the creditor for at least efve rnthS after the rewrting dale. If there is an unconditional right to defer settlement for at least etrIe ffonths after Ihe reporting date. they are presented as non-currenl Trade creditors are recognised at the transacbon price. Fund structure Unreslricled income funds are general funds that are available for use at the Iruslees's discretion in furtheran of the objectives of the charity. Restricted funds only be used for a speufic purpose. 3 Income from donations and legacles Unrestricted funds General Totsl funds t)onalions and legacie5.' Donations from individuals Grants, including capitsl grants", Government grants Tolal for 2020 187 187 25,855 25,855 26,042 26,042 Total for 2019 1,360 7,360 Page 13
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 4 Income from charitsbl• activities Unrestricted funds General Total funds Ice rink operation 120.692 120,692 Total for 2020 120,692 120,692 Total lor 2019 207,034 207,034 S Income from other trading activities Unrestrfcted funds General Total ' funds Trading income". Sales of goods and serwices 11.544 11.544 Total for 2020 11,544 11,544 Total for 2019 20,914 20,914 6 Investment income Unres¢ri¢ted funds Genernl Total funds Interest receivable and similar income". Interest receivable on bank deposits Totsl for 2020 118 118 118 118 Totsl ft>r 2019 108 108 Page 14
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 7 Expenditure on raising funds a) Costs of tradlng actlvilles Unrestricted funds General Total funds Note Costs of goods sold 6,918 6.918 Total for 2020 6.918 6,918 Total for 2019 13,194 13,194 8 Expenditure on charitable acli¥illes Unrestricted fund5 General Restricted funds Total funds Note Ice rink operation Depreciation, amortisation and otr similar costs Stsff costs Allocated support ¢osts Govemance costs 60,261 60.2f1 12.017 83.984 25.098 3,640 12,017 83,984 25.459 3,640 Tolal for 2020 185,000 361 185,361 Total for 2019 201,370 1,602 202,972 Activty undertaken directty Activity support costs Total expendltuve Ice rink operalion 156,262 29.099 185,361 Total for 2019 165.527 37.445 202,972 Page 15
Grimsby Ice Rink Notes to th• Financial Statements for the Year Ended 31 August 2020 9 Analysis of govemance and support costs Support ¢osts allo¢atod lo ¢haritsble activitie5 Premises Costs Finan¢e Administration in¢luding ¢osts costs depreciation Govemance ¢osts Basis of allocation Ice rink operation 3.640 6.091 3,255 15,659 Tolal for 2019 1.613 5.276 4,075 25,267 Other support costs Total funds Ice rink operation 454 29,099 Total for 2019 1.214 37.445 Governance costs Unrestritted funds General Total funds Independent examiner fees Examinatn of the financial statements Legal fees Totsl for 2020 2,640 1.000 2,640 1,000 3,640 3.640 Totsl for 2019 1,613 1.613 Page 16
Grimsby Ice Rink Notes to the Financial Statements for th• Yèar End•d 31 August 2020 10 Government grants Funding received from Lifetime Training AppntirhiP Grant, NISA LLxal Grant and a NELC Corona Virus Small Business Granl The amount of grants recognised in the financial stslements was £25.85512019 - £5001. 11 Net incomingloulgolng resources Net loutgoing)lincoming resources fof the year inctude". 2020 2019 Operating leases - plant and machinery Oeprecith'on of fixed assets 17.998 12,017 17,998 11,971 12 Trustees remuneration and expenses No Iruslees. nor any persons connected wth them. have received any mUnerat[on fr¢)m the charity during the year. No trustees have feceNed any 1mbur expenses or any other benefits from the charity during the year. 13 Staff costs The aggregate payroll costs were as fdkNts". 2020 2019 Staff costs during the year were: Wages and salaries Pension cosls 83,379 605 74,058 383 83,984 74,441 The monthty average nuffthr of persons (including senior management team) employed by the charity during the year was a5 follows.. 2020 . 2019 Charitable support staff 10 No employee received emoluments of more than £60.OW during the year. The totsl employee benefits of the key rnanagenI personnel of the chanty were £20,74412019 - £19,440) Page 17
Grim$by l¢e Rink Notes to the Financial Statements for the Year Ended 31 August 2020 14 Indep•ndent gxaminerfs remuneration 2020 2019 Examination of the financial stsIemts 2.640 1,200 15 Taxatlon The charity is a registered charity and its actIvrtS are exempt from tsxation. 16 Tangiblo fixed assets Furniture and equipment Total Cost Al 1 September 2019 AdditK)ns 39,853 2.8CK) 39,853 2.800 At 31 August 2020 42,653 42,653 Depreclation At 1 September 2019 Charge fof the year Al 31 August 2020 Net book value 16.760 12,017 16,760 12.017 28,777 28.777 At 31 August 2020 At 31 August 2019 13.876 13.876 23,093 23.093 Included within fixed assets is an asset pledged as security under a hire purchase agreement with a net book value of £6,66712019: £16,667) 17 Stock 2020 2019 Stocks 2,345 1,559 Page 18
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 18 Debtors 2020 2019 Trade debtors Prepayment5 Other debtors 3,923 12.584 191 12.775 3.923 19 Creditors: amounts tslling due within one year 2020 2019 Bank loans Trade creditors Hire purchase and finance leases Other taxation and social security Other creditors Accruals 1,667 18.967 6.486 314 290 23.233 3,082 9,730 719 299 67,818 50,957 81,648 Bank borrowings Included within bank borrowin9s is an arrN)unt of £50.000 advanced by the company's bankers in respect of the Coronavirus Business lnleirupts.on Loan. This loan is repayable in equal inslalments over 60 months commencing June 2021. and interest is payable on the loan at a rale of 2.5% over base rate. 20 Cre(litors: amounts falling due after one year 2020 2019 Bank h)ans Hire purchase and finance leases 48.333 6,486 6.486 48,333 Included in the creditors are the folkxiing anM)unts due after nNJre than five years.. 2020 After more than five years by inslalments 8,333 Page 19
Grimsby Ic• Rink Notes to the Financial Statements for the Year Ended 31 August 2020 21 Obligations under l•as•s and hire purchase contracts The total value of future minimum base payents was as follows.. 2020 2019 Wrthin one year In to fve years 6.486 9.730 6,486 6,486 16.216 These amounts are all secured UF)n the asset to which they rele. 22 Funds Balance at Balance at 31 August 2020 September 2019 Incoming Resources resources expended Transfeys Unrestricted General 45,953 158,396 {191.918) 1361 13611 361 12.070 RoStri¢tod Total funds 45.953 192,279 12,070 Balance at Balance at 31 August 2019 September 2018 Incoming Resouvtes resources expended Transfers Unreslricted General 32,703 229.416 (214,564) 1,602 {1,602} 1.602 45.953 Restricted Total fund$ 32.703 229.416 216.166 45,953 Page 20
Grimsby Ice Rink Notes to the Financial Statements for the Year Ended 31 August 2020 23 Analysls of net assets between funds Unrestri¢ted funds G¢neral Total funds at 31 August 2020 Tangible fixed assets Current assets Current Ipbilities Creditors over 1 year Totsl net assets 13.876 96,799 150,9571 48,333 13,876 96,799 {50,9571 48,333 11,385 11,385 Unrestricted funds Genoral Total funds at 31 August 2019 Tangible fixed assets Current assets Current liabilities Creditors over 1 year 23.093 110,994 181,6481 6,486 23.093 110.994 181,6481 6,486 Total nel assets 45,953 45,953 24 Analysis of nel funds At1 September 2019 Financing cash flows At 31 Augwst 2020 Cash al bank and in hand Debt due after rrfe than one year Finance leases and hire purchase contracts 105,512 23,833} 150.0001 81,679 150,000} 6,486 16,216 Net debt 64,103 25,193 At1 September 2018 Finan¢ing cash fiows At 31 August 2019 Cash al bank and in hand Finance leases and hire purchase ¢ontracls Nel debt 79.322 125.945 26.190 9,729 105,512 116,2161 89,296 53.377 35,919 25 Related party transaclions There were no related party transactions in the year. Page 21