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2022-03-31-accounts

Page
Trustees'
annual
report		 (incorporating
the director's		 report)
Independent auditor's report to the members
Consolidated statement of financial
activities		 (including income and expenditure
account)
Consolidated statement of financial
position		 12
Charity statement
of financial
position		 13
Consolidated statement of cash flows 14
Notes to the annual
report and consolidated		 financial statements 15

Reference and administrative
 and administrative
 details
Registered charity name Bay Leisure Umlted and its Subsidiaries
Charity registration number 1190403
Company registration number 06337728
Principal ofAce and registered Suite 4
ofAce St Helens
Rugby and Cricket Ground
Bryn Road
Swansea
SA2 OAR
The trustees 3 A Charles
R G Davies
P N Hawkins
R D Thomas
M K Williams
P H Thorburn (Appointed 1 October 2021)
Company secretary D 3 Evans
AudItor Clay Shaw Thomas Ltd
Chartered
accountants a statutory		 auditor
2 Oldfleld
Road
Bocam Park
Brldgend
CF35 5L3
Bankers Barclays Bank Pk
262 Oxford Street
Swansea
West Glamorgan
SA1 3BR

2022 2022 2021
Unrestricted
funds Total funds Total funds
Note 6 E
Income and endowments
Donations
and grants		 142,196 142,196 593,977
Charitable
activities		 3,885,626 3,885,626 3,049,414
Other trading
activities		 47,006 47,006 12,970
Investment
Income		 649 649 17
Other Income 7,858 7,858
Total income 4,083,335 4,083,335 3,656,378
Expenditure
Expenditure
on raising funds:
Costs ofother trading
Expenditure
on charitable		 activities
activities		 10
11,12		 (504)
(4,360,602)		 (504)
(4,360,602)		 (1,411)
(3,853,220)
Taxation 14 (44,645) (44,645) 425,302
Total expenditure ('I,405,751) (4,405,751) (3,429,329)
Net (expenditure)/income and net movement in funds (322/416) (322I416) 227,0'I9
Reconciliation
offunds
Total funds brought
forward		 as previously reported 3,697,925 3,697,925 3,215,006
Prior year adjustment (255,870) (255,870)
Total funds brought
forward		 as restated 3,442,055 3,442,055 3I215/006
Total funds carried forward 3,119,639 3,119,639 3,442,055

Consolidated
St
31March 2022		 atement ofFinancial Position
2022 2021
frssrstsd)
Note 6
Fixed assets
Intangible
assets		 19 566,323 663,407
Tangible
fixed assets		 20 3,061,439 3,672,258
3,627,762 4,335,665
Current assets
Debtors 22 1,032,858 944,589
Cash at bank and in hand 1,161,175 1,463,930
2I194I033 2~408 519
Creditors: Amounts falling due within one year 23 1,989,301 2,025,657
Net current assets 204,732 382,862
Total assets less current liabilities 3,832,494 4,718,527
Creditors: Amounts falling due after more than one year 24 667I855 1,276,472
Provisions 27 45,000
Net assets 3,119,639 3,442,055
Funds ofthe charity
Unrestdcted
funds		 3,119,639 3,442,055
Total charity funds 29 3,119,639 3,442,055

Charity Stateme
31March 2022		 nt of Financial Position
2022 2021
(restated)
Note 6
Fixed assets
Intangible
assets		 19 936,757 1,075,000
Tangible
fixed assets		 20 3,061,439 3,672,258
Investments 21 100 100
3,998,296 4,747,358
Current assets
Debtors 22 961,307 17,573
Cash at bank and in hand 960,979 1,237,784
1,922,286 11255I357
Creditors: amounts falling due within one year 23 1,965,341 1,091,408
Net current liabilities (43,055) 163,949
Total assets less current liabilities 3,955,241 4,911,307
Creditors: amounts falling due after more than one year 24 667,855 1,276,472
Provisions 27 45,000
Net assets 3,242,386 3,634,835
Funds ofthe charity
Unrestricted
funds		 3,242,386 3,634,835
Total charity funds 3,242,386 3,634,835

2022 2021
/restated/
6
Cash flows from operating activities
Net (expenditure)/income (322,416) 227,049
Adjustments
for:
Depreciation
of tangible
fixed assets		 636,392 658,522
Amortisation
of intangible
assets		 97,084 48,547
Other interest receivable
and		 similar income (649) (17)
Interest payable
and similar		 charges 153,206 221,8'l6
Gains on disposal of tangible fixed assets (7,858)
Taxation 44,645 (425,302)
Accrued expenses 47,683 192,842
Changesin:
Stocks 1,772
Trade and other debtors (88,269) (230,032)
Trade and other creditors 113,784 422,807
Provisions
and employee
benefits		 45,000
Cash generated
from operations		 718I602 1~118I034
Interest received 649 17
Tax (paid)/received (77,765) 209,777
Net cash from operating
activities		 641,486 1,327,828
Cash flows from investing activities
Purchase of tangible assets (26,049) (350,683)
Proceeds from sale oftangible assets 8,333
Net cash used in investing
activities		 (17,716) (350,683)
Cash flows from financing activities
Proceeds from borrowings 'l00,000
Repayments
of borrowings		 (83,744)
Payments offinance lease liabilities (842,781) (576,064)
Net cash used in financing
activities		 (926,525) (176,064)
Net (decrease)/increase in cash and cash equivalents (302,755) 801,081
Cash and cash equivalents at beginning ofyear 1,463,930 662,849
Cash and cash equivalents at end ofyear 1,161,175 1,463,930

Donations and gr an ts
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
frestetedf
E
Grants
Government grants - Coronavirus 3ob
Retention Scheme 43,090 43,090 430,121 430,121
Government grants - Local Government
Coronavlrus Grants 99,106 99,106 163,856 163,856
142,196 142,196 593,977 593,977

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
(restated)
E E E E
Health and fitness 3,885,626 3,885,626 3,049,414 3,049,414

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
Fresteted]
E E E E
Vending machine commission 12,715 12,715 2,059 2,059
Retail sales 86 86 1,094 1,094
Room hire 34,205 34,205 9,569 9,569
Soft play 248 248
47,006 47,006 12,970 12,970

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
(restated'
E E E
Bank interest receivable 25 25 17 17
Other interest receivable 624 624
649 649 17 17
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
(restated)
E E E
Gain on disposal of tangible fixed assets
held for charity's own use 7,858 7,858
Costs ofother trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
(restated)
E E
Food &beverage purchases 826 826
Retail purchases 504 504 585 585
504 504 1,411 1,411

Expend iture
on charitable
a		 ctivities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
(restated'
E E E
Health and fitness 3,820,913 3,820,913 3,286,414 3,286,'l1'l
Support costs 539,689 539,689 566,806 566,806
4,360,602 4,360,602 3,853,220 3,853,220

nditure
on		 charitable
acti		 vities
by activity type
Activities
undertaken Totalfunds Total fund
directly Support costs 2022 2021
6 6 E 6
Health and fitness 3,820,913 35,537 3,856,450 3,318,666
Governance costs 504,152 504,152 534,554
3,820,913 539,689 4,360,602 3,853,220

Analysis ofactivitie s un dertaken
directl		 y
2022 2021
E 6
External instructors 83,059 34,528
Staff costs 799,071 639,642
Operating
leases		 682,662 773,8'i7
Rates and water 95,955 51,626
Light and heat 223,228 82,778
Other establishment costs 197,335 214,915
Insurance 46,543 46,161
General consumables 39,414 21,380
Advertising 216/149 65,174
Other office costs 15,988 8,505
Amortlsation
of intangible		 assets 97,084 48,546
Depreciation
of equipment		 633,415 655,546
Interest on bank loans and overdrafts 8,744
Interest on finance leases and hire purchase contracts 142,850 219/678
Licences 53,966 94,866
ITcosts 52,164 28,762
Irrecoverable
VAT		 312,342 242,236
Retention
costs		 75,944 58,224
Provision for onerous lease 45,000
3,820,913 3,286,414

13. Analysis of su ppo* costs
Health and
fitness Governance Total 2022 Total 2021
E E 6
Staff costs 419,114 419,114 463,807
Premises 9,824 9,824 426
Communications and IT 10,976 10,976 8,255
Telephone 22,921 1,241 24,162 22,419
Operating leases 15,101 15,101 12,137
Licences 160 160 7,318
Other office costs 1,880 1,880 5,584
Irrecoverable VAT 6,570 6,570 4,608
Depreciation 2,976 2,976 2,976
Legal and professional fees 24,310 24,310 17,719
Audit fees 12,000 12,000 10,400
Travel and subsistence 11,004 11,004 8,989
Interest and similar charges 1,612 1,612 2,168
35,537 504,152 539,689 566,806
14. Taxation
Major components oftax expense/(income)
2022 2021
fiesteted/
Current tax:
Adjustments in respect of prior periods 31,802 (287,000)
Deferred tax:
Origination and reversal oftiming differences 12,843 (138,302)
Taxation 'l4,6'i5 (425,302)
Reconciliation oftax expense/(income)
ofcorporatio n
tax in the		 UK of 19%(2021:19%).
2022 2021
/restated/
6 6
Expenditure before taxation (277,771) (198,253)
Expenditure by rate oftax (35,004) 557
Adjustment to tax charge in respect of prior periods 31,802 (287,000)
Deferred tax: origination and reversal of timing differences 12,843 (138,302)
Effect ofincome/expenses exempt from tax 35,004 (557)
Tax on expenditure 'i4,645 (425,302)

Net (expe ndit ure)/Inco me Is s tated aRer charging/(crediting):
2022 2021
/res rate rr/
E E
Amortisation of intangible assets 97,08'I 48,547
Deprecialion oftangible fixed assets 636,392 658,522
Gains on disposal of tangible fixed assets (7,858)
Operating lease rentals 697,763 785,984
Auditors remuneration
2022 2021
/restated/
E
Fees payable for the audit of the annual report and consolidated
financial statements 12,000 10,400
Fees payable to the charity's auditor and its associates for other services:
Taxation compliance services 1,650 1,550

Staffco sts
The total staff costs and employee benefits for the reporting period are analysed
as follows:
2022 2021
/resrsredj
E E
Wages and salaries 1,012,934 935,467
Social security costs 81,670 78,651
Employer contributions to pension plans 123,581 89,331
1,218,185 1,103,449
verage
num		 ber
of full-
2022 2021
No. No.
3 3
2 2
55 50
60 55

Staffcosts {conrrrrrred}
The number ofemployees whose remuneration for the year fell within the following bands, were:
2022 2021
No. No.
E130,000to E139,999 1
E150,000to E199,999 2 1
2 2
Key Management
Personnel

Intangible
assets (group)
Goodwill
E
Cost
At 1April 2021(as restated) and 31March 2022 970,929
Amortisation
At 1April 2021 307,522
Charge for the year 97,084
At 31March 2022 'l04,606
Carrying
amount
At 31March 2022		 566,323
At 31 March 2021 663,407

Intangible
assets (group)		 fcrpnrrrrrrerr7
Charity
Goodwill
Cost 6
At 1 April 2021 (as restated) and 31 March 2022 1,075,000
Amortisation
Charge for the year 138,243
Carry amount
At 31 March 2022 936,757
At 31 March 2021 1,075,000

Tangible fixed assets (group)
Motor vehicles Equipment Total
6 6 6
Cost
At 1 April 2021 (as restated) 14,858 6,957,214 6,972,072
Additions 26,049 26,049
Disposals (476) (476)
At 31March 2022 14,858 6,982,787 6,997,6'i5
Depreciation
At 1 April 2021 7,150 3,292,664 3,299,814
Charge for the year 2,976 633,416 636,392
At 31March 2022 10,126 3,926,080 3,936,206
Carrying
amount
At 31March 2022 4,732 3,056,707 3,061,439
At 31 March 2021 7,708 3 664 550 3~6721258

Tangible fixed assets (group)
fcontinuerf)
Charity
Motor
Cost vehicles Equipmentf Total
At 1April 2021 (as restated) 14,858 6,957,214 6,972,072
Additions 26,049 26,049
Disposals (476) (476)
At 31 March 2022 14,858 6,982,787 6,997,645
Depreciation
At 1 April 2021 7,150 3,292,664 3,299,814
Charge for the year 2,976 633,416 636,392
At 31March 2022 10,126 3,926,080 3,936,206
Carrying
amount
At 31 March 2022 4~732 3056 707 3~0611439
At 31 March 2021 7,708 3,664,550 3,672,258
Finance leases and hire purchase contracts (group)
to assets held under finance leases or hire purchase ag reements:
Equipment
E
At 31March 2022 1,727,669
At 31 March 2021 1,983,901

2022 2021
Eras rated)
E E
Trade debtors 8,424 1,422
Deferred tax asset 37,212
Prepayments and accrued income 780,927 687,770
Corporation tax repayable 206,295 209,235
Other debtors 46,162
1,032,858 944,589
Charity
2021
2022 (restated)
E E
Trade debtors 4,982
Amounts
owed by group		 undertakings 175,398
Prepayments and accrued income 780,927 2,442
Other debtors 15,131
961,307 17,573

Creditors: Amounts falling due within one ye ar (group)
2022 2021
frestatedj
6 E
Bank loans and overdrafts 100,000 75,000
Trade creditors 733,973 670,317
Accruals and deferred income 518,805 471,122
Social security and other taxes 28,425 41,222
Obligations
under finance leases and hire purchase		 contracts 600,433 711,128
Other creditors 7,665 56,868
1,989,301 2,025,657

Charity
2021
2022 (restated)
6 6
Bank loans and overdrafts 100,000 75,000
Trade creditors 733,973 39,456
Amounts
owed to group undertakings		 148,919
Accruals and deferred income 518,806 44,392
Social security and other taxes 8,606 24,075
Obligations
under finance leases and hire purchase		 contracts 600,433 711,128
Other creditors 3,523 48,438
1,965,341 1,091,408
Creditors:
(group)		 Amounts
falling due after more tha		 n one year
2022 2021
frestated)
6 E
Bank loans and overdrafts 225,000 325,000
Obligations under finance leases and hire purchase contracts 442,855 951,472
667,855 1,276,'i72
Charity
2021
2022 (restated)
6
Bank loans and overdrafts 225,000 325,000
Obligations under finance leases and hire purchase contracts 442I855 951,472
667,855 1,276,472

The total

follows:		 future
minimum
lease payments
under
finance
l		 eases and
hire purchase
con		 tracts
are as
2022 2021
/restated)
E E
Not later than 1 year 600,433 711,128
Later than 1year and not later than 5 years 442,855 951,472
1,043,288 1,662,600
Charity
2021
2022 (restated)
E E
Not later than 1year 600,433 711,128
Later than 1year and not later than 5 years 442I855 951I472
1,043,288 1,662,600

The def erred tax included
in the statement
of financlal
positi		 on
Is as foll		 ows:
2022 2021
/restated/
E E
Included in debtors (note 22) 37,212
The deferred tax account consists of the tax effect of timing differences in respect of:
2022 2021
/restated 7
E
Unused tax losses (37,212)
Charity

Unrestr icted
funds
At 1April Prior year At31March
2021 Income Expenditure adjustments 2022
E E E E E
General funds 3,697,925 'i,083,335 (4,405,751) (255,870) 3,119,639
At 1April Prior year At 31 March
2020 Income Expenditure adjustments 2021
E E E E E
General funds 3,215,006 3,656,378 (3,429,329) 3,442,055

Analysis ofnet a ssets between
f		 unds
Unrestricted Total Funds
Funds 2022
6 6
Intangible assets 566,323 566,323
Tangible fixed assets 3,061,439 3,061,439
Current assets 2,194,033 2,194,033
Creditors: amounts falling due within one year (1,989,301) (1,989,301)
Creditors: amounts falling due aRer more than one year (667,855) (667,855)
Provisions (45,000) (45,000)
Net assets 3,119,639 3,119,639
Unrestricted Total Funds
Funds 2021
5 6
Intangible assets 663,407 663,407
Tangible Axed assets 3,672,258 3,672,258
Current assets 2,408,519 2,408,519
Creditors: amounts falling due within one year (2,025,657) (2,025,657)
Creditors: amounts falling due aRer more than one year (1,276,472) (1,276,472)
Provisions
Net assets 3,442,055 3,442,055

As previously
Restated reported
6 6
Fixed asset equipment cost 6,957,214 5,154,357
Fixed asset equipment depreciation 3,292,664 2,370,454
Obligations under finance lease and hire purchase contracts 1,662,600 526,082
Unrestricted funds at 31 March 2021 3,442,055 3,697,925

Anal ysis ofchanges
in net debt
At 1Apr At 31Mar
2021 Cash flows 2022
E f
Cash at bank and in hand 1,463,930 (302,755) 1,161,175
Debt due within one year (786,128) 85,695 (700,433)
Debt due after one year (1,276,472) 608,617 (667,855)
(598,670) 391,557 (207,113)

The total future minimum lease payments under non-cancellable operating leases are as follows:
2022 2021
f frerlsredJ
f
Not later than 1year 630,993 606,465
Later than 1year and not later than 5 years 2,295,773 2,276,182
Later than 5years SI l65~130 5~384428
8,391,896 8,267,075
Charity
2021
2022
f		 (restated)
E
Not later than 1year 630,393 606,465
Later than 1year and not later than 5 years 2,295,773 2,276,182
Later than 5years 5,465,130 5,384,428
8391~296 8(267)075