#
##
##
##
##
|||||||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|
##
##