Central Swindon North Leisure & Libraries Trust
Statement of Accounts FY2023-24
Key points for the year
These accounts have been verified by an independent reviewer, KJS Accounting.
There have been no organisational or structural changes to the Trust this year.
The accounts are presented in the same format as last year showing a top level consolidated view, followed by a detailed breakdown of the Libraries and St Mark’s Tennis Centre figures.
The Trust runs three bank accounts, one for Library dealings, one for St Marks Tennis Centre and a third, a Debit Card account for sundry purchases for the Libraries. This account has a limit of £500. Invoices/receipts are still required to validate any transactions. These transactions are scrutinised by the Treasurer.
Overall the accounts show a consolidated surplus of £18,414 for the year ending March 31[st] 2024. This figure is made up of a £1,178 surplus for the Libraries and £17,236 for the Tennis Centre.
The Libraries surplus, which is slightly lower than 2023 is explained by good control of operating costs which have fallen compared to the previous year and an increase in grant funding of £6,351.
The VAT overpayment of £632 received in 2022/23 was repaid in this financial year. The grant received from Westmill Solar for bikes, also in 2022/23 for Moredon Sports Hub was also processed during this year.
New computers and printers were added at a cost of £4,694 to several libraries this year and funded out of the IT sinking fund (Operating Costs).
Forecast vs Actual
This table shows the 2023-24 budget set in late 2022 for the Library and the actual costs incurred in the last financial year. Considering the volatility in energy charges and the steep increase in inflation across this period the results reflect solid management of the finances.
| FY 2023/24 Budget Forecast Vs Actual | Budget Actual Dif +/- |
Budget Actual Dif +/- |
Budget Actual Dif +/- |
|---|---|---|---|
| Library Services | 15,890.99 £ |
15,752.00 £ |
138.99 £ |
| Rents | 28,400.10 £ |
27,933.00 £ |
467.10 £ |
| Operatng Costs | 18,216.92 £ |
13,446.00 £ |
4,770.92 £ |
| Total | 62,508.00 £ |
57,131.00 £ |
5,377.00 £ |
| Parish Grant Reducton | 5,000.00 -£ |
- £ |
5,000.00 -£ |
| Total | 57,508.00 £ |
57,131.00 £ |
377.00 £ |
This is the last year where the £5k grant reduction will be applied.
St Marks
Income to the Trust increased by £9,436 made up of £4,200 to the sinking fund (reflects the yearly uplift in the contract and the greater availability of courts resulting from the LED lighting installation) and £10,882 for the LTA loan repayment. Operating Costs decreased by £10,895 as the cost of
electricity moved from the Trust to NTA. This was part of the contract renegotiation with NTA resulting from the lighting installation. The cost of electricity to the Trust was £8,799 in 2022-23.
The LED lighting which was purchased in FY2022-23 for £156k is included as an asset for the Trust and is shown in this form in the accounts. As it is an asset it will be depreciated over a useful life of 20 years. 18 months depreciation has been applied in these accounts totalling £11,700. The LTA loan is shown as a liability, currently £95,310 down from £105,900 a year ago, as are the prepayments from NTA to cover the ongoing repayments to LTA. As of the end of March two payments of £5,441 had been made to LTA in line with the agreed schedule and three payments had been made to the Trust from NTA.
Cash at bank has increased £11,254 to £29,255, although this includes a £5,441 pre-payment for the LTA loan. This money is used to maintain the courts, of which there are annual costs, and cover any of the Trust’s other liabilities to St Marks.
Budget for 2024-25
A budget of £60,814 has been compiled for the Libraries for financial year 2024-25. This has been requested from and been paid by the Parish. The funds were transferred to the Trust in May. This represents an uplift of 5.8% on the previous year.
The Trust continues to look for ways to reduce costs.
Neil Johnson
Treasurer
June 12[th] 2024
Consolidated Accounts
| Consolidated Accounts | Consolidated Accounts | |||||
|---|---|---|---|---|---|---|
| Central Swindon North Leisure and Libraries Trust | ||||||
| Statement of Financial Actvites | ||||||
| Financial Year ended 31st March 2024 | 2024 | 2023 | ||||
| Notes | £ | £ | ||||
| Income | ||||||
| Parish Grants | 1 | 57,508 | 57,057 | |||
| Loan Receipts | 2 | 10,882 | - | |||
| Annual Tennis receipts | 3 | 19,800 | 20,600 | |||
| Library Fees and Fines | 1,055 | 1,078 | ||||
| Total Income | 89,245 | 78,735 | ||||
| Expenditure: | ||||||
| Operatng Costs | 4 | 47,279 | 58,506 | |||
| Set Up Costs | - | - | ||||
| Stock Costs | 5 | 15,752 | 14,016 | |||
| Depreciaton | 7,800 | 3,900 | ||||
| Total Expenditure | 70,831 | 76,422 | ||||
| Net Income/Expenditure for period | 18,414 | 2,313 | ||||
| Central Swindon North Leisure and Libraries Trust | Central Swindon North Leisure and Libraries Trust | |||||
|---|---|---|---|---|---|---|
| Balance Sheet | ||||||
| Financial Year ended 31st March 2024 | 2024 | 2023 | ||||
| Notes | £ | £ | ||||
| Fixed Assets | 156,000 | 156,000 | ||||
| Less Depn | (11,700) | (3,900) | ||||
| NBV | 6 | 144,300 | 152,100 | |||
| Current Assets | ||||||
| Stock | 76,497 | 60,606 | ||||
| Less Writen Down | (68,552) | (52,800) | ||||
| Sub Total | 5 | 7,945 | 7,806 | |||
| Debtors | 7 | 7,093 | 3,900 | |||
| Cash at Bank | 8 | 51,688 | 45,027 | |||
| Total Current Assets | 58,781 | 48,927 | ||||
| Less: Current Liabilites | ||||||
| Loan | 9 | 95,310 | 105,900 | |||
| Creditors | 10 | - | 5,632 | |||
| Received in Advance | 11 | 5,441 | 5,441 | |||
| Net Current Assets | 136,570 | 145,982 | ||||
| Net Assets | 110,275 | 91,860 | ||||
| Represented By; | ||||||
| Brought Forward | 91,860 | 89,547 | ||||
| Net+/- (Loss) for the year | 18,414 | 2,313 | ||||
| Total Funds | 110,275 | 91,860 | ||||
| Central Swindon North Leisure and Libraries Trust | Central Swindon North Leisure and Libraries Trust | |||||
|---|---|---|---|---|---|---|
| Notes to Statement of Financial actvites | ||||||
| Financial Year ended 31st March 2024 | ||||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| 1. Parish Grants | ||||||
| Library Trust | 57,508 | 51,157 | ||||
| St Marks | - | 5,900 | ||||
| Total | 57,508 | 57,057 | ||||
| 2. Loan Receipts | ||||||
| Received from Natonal Tennis Ass | 10,882 | - | ||||
| 3. Tennis Receipts | ||||||
| Q1 Received | 4,950 | 3,900 | ||||
| Q2 Received | 4,950 | 3,900 | ||||
| Q3 Received | 4,950 | 3,900 | ||||
| Q4 outstanding | 4,950 | 3,900 | ||||
| Total | 19,800 | 15,600 | ||||
| 4. Operatng Costs | ||||||
| Ofce and Security | 3,820 | 4,245 | ||||
| Cleaning & Court Maintenance | 3,370 | 6,160 | ||||
| Rent & Rates | 27,933 | 28,104 | ||||
| Heat & Light, water | 4,777 | 9,543 | ||||
| Communicaton & IT | 5,092 | 2,937 | ||||
| Professional Fees & Subs | 401 | 1,825 | ||||
| Sundry | 1,886 | 5,692 | ||||
| Total | 47,279 | 58,506 | ||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| 5. Stock | ||||||
| Stock & Supplies Cost | 76,497 | 60,606 | ||||
| Depreciaton: | ||||||
| Brought forward | 52,800 | 38,784 | ||||
| Less: 50% Write Down for year 2023/24 | 15,752 | 14,016 | ||||
| Amount Carried Forward | 68,552 | 52,800 | ||||
| Net Value | 7,945 | 7,806 | ||||
| 6. Fixed Assets | ||||||
| LED Lightng | 156,000 | 156,000 | ||||
| Depn | (7,800) | (3,900) | ||||
| Net Book Value | 148,200 | 152,100 | ||||
| 7. Debtors | ||||||
| Grant Pending | 4,950 | 3,900 | ||||
| NTA Payment of H & L | 2,143 | - | ||||
| Tennis Payments | - | - | ||||
| Total | 7,093 | 3,900 | ||||
| 7. Cash at Bank | ||||||||
|---|---|---|---|---|---|---|---|---|
| Metro Bank | 26,839 | 22,493 | 34,810 | |||||
| Metro Debit Card | 187 | |||||||
| St Marks | 18,001 | 64,640 | 58,480 | |||||
| Total | 45,027 | 87,133 | 93,290 | |||||
| 8. Loan | ||||||||
| Lawn Tennis Assoicaton - LED lightng | 105,900 | - | - | |||||
| Note: Repayable over 10 year. First amount is due in 2023/24 | ||||||||
| 9. Creditors | ||||||||
| Westmill Payment | 5,000 | 5,000 | 5,000 | |||||
| Operatng Costs | - | 2,816 | 4,855 | |||||
| VAT Refund recd in error | 632 | - | - | |||||
| Total | 5,632 | 7,816 | 9,855 | |||||
| 10. Loan payment Received in Advance | ||||||||
| Receipt from NTA - pay't due 2023/24 | 5,441 | - | - | |||||
| 11. Trustee Costs | ||||||||
| No Trustee received any remuneraton during the fnancial year | ||||||||
| Librarians were employed and paid by Central Swindon North Parish | ||||||||
| Note: No VAT recoverable |
| Central Swindon North Leisure and Libraries Trust -Libraries | Central Swindon North Leisure and Libraries Trust -Libraries | |||||
|---|---|---|---|---|---|---|
| Statement of Financial Actvites | ||||||
| Financial Year ended 31st March 2024 | 2024 | 2023 | ||||
| Notes | £ | £ | ||||
| Income | ||||||
| Parish Grants | 1 | 57,508 | 51,157 | |||
| Westmill Grant | - | 5,000 | ||||
| Library Fees and Fines | 801 | 1,078 | ||||
| Total Income | 58,309 | 57,235 | ||||
| Expenditure: | ||||||
| Operatng Costs | 4 | 41,379 | 41,712 | |||
| Set Up Costs | - | |||||
| Stock Costs | 5 | 15,752 | 14,016 | |||
| Depreciaton | ||||||
| Total Expenditure | 57,131 | 55,728 | ||||
| Net Income/Expenditure for period | 1,178 | 1,508 | ||||
| Central Swindon North Leisure and Libraries Trust -Libraries | Central Swindon North Leisure and Libraries Trust -Libraries | |||||
|---|---|---|---|---|---|---|
| Balance Sheet | ||||||
| Financial Year ended 31st March 2024 | 2024 | 2023 | ||||
| Notes | £ | £ | ||||
| Fixed Assets | - | - | ||||
| Less Depn | - | - | ||||
| NBV | 6 | - | - | |||
| Current Assets | ||||||
| Stock | 76,497 | 60,606 | ||||
| Less Writen Down | (68,552) | (52,800) | ||||
| Sub Total | 5 | 7,945 | 7,806 | |||
| Debtors | 7 | - | - | |||
| Cash at Bank | 8 | 22,433 | 27,026 | |||
| Total Current Assets | 30,378 | 34,832 | ||||
| Less: Current Liabilites | ||||||
| Loan | 9 | - | - | |||
| Creditors | 10 | - | 5,632 | |||
| Net Current Assets | 30,378 | 29,200 | ||||
| Net Assets | 30,378 | 29,200 | ||||
| Represented By; | ||||||
| Brought Forward | 29,200 | 27,693 | ||||
| Net+/- (Loss) for the year | 1,178 | 1,508 | ||||
| Total Funds | 30,378 | 29,200 | ||||
| Central Swindon North Leisure and Libraries Trust -Tennis | Central Swindon North Leisure and Libraries Trust -Tennis | Central Swindon North Leisure and Libraries Trust -Tennis | ||||
|---|---|---|---|---|---|---|
| Statement of Financial Actvites | ||||||
| Financial Year ended 31st March 2024 | 2024 | 2023 | ||||
| Notes | £ | £ | ||||
| Income | ||||||
| Parish Grants | 1 | - | 5,900 | |||
| Loan Receipts | 2 | 10,882 | - | |||
| NTA Payments | 3 | 19,800 | 15,600 | |||
| Other | 254 | - | ||||
| Total Income | 30,936 | 21,500 | ||||
| Expenditure: | ||||||
| Operatng Costs | 4 | 5,900 | 16,794 | |||
| Set Up Costs | - | - | ||||
| Stock Costs | 5 | - | - | |||
| Depreciaton | 7,800 | 3,900 | ||||
| Total Expenditure | 13,700 | 20,694 | ||||
| Net Income/Expenditure for period | 17,236 | 806 | ||||
| Central Swindon North Leisure and Libraries Trust -Tennis | Central Swindon North Leisure and Libraries Trust -Tennis | Central Swindon North Leisure and Libraries Trust -Tennis | ||||
|---|---|---|---|---|---|---|
| Balance Sheet | ||||||
| Financial Year ended 31st March 2024 | 2024 | 2023 | ||||
| Notes | £ | £ | ||||
| Fixed Assets | 156,000 | 156,000 | ||||
| Less Depn | (11,700) | (3,900) | ||||
| NBV | 6 | 144,300 | 152,100 | |||
| Current Assets | ||||||
| Stock | - | - | ||||
| Less Writen Down | - | - | ||||
| Sub Total | 5 | - | - | |||
| Debtors | 7 | 7,093 | 3,900 | |||
| Cash at Bank | 8 | 29,255 | 18,001 | |||
| Total Current Assets | 36,348 | 21,901 | ||||
| Less: Current Liabilites | ||||||
| Loan Lawn Tennis Associaton | 9 | 95,310 | 105,900 | |||
| Creditors due within one year | 10 | - | ||||
| Received in Advance | 5,441 | 5,441 | ||||
| Net Current Assets | 100,751 | 111,341 | ||||
| Net Assets | 79,897 | 62,660 | ||||
| Represented By; | ||||||
| Sinking Fund & B/F | 62,660 | 61,855 | ||||
| Net+/- (Loss) for the year | 17,236 | 806 | ||||
| Total Funds | 79,897 | 62,660 | ||||