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2023-03-31-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 13
Charity statement
of financial
position		 14
Statement
of		 cash flows 15
Notes to the annual
report and consolidated		 financial statements 16

Reference and administrative
 and administrative
 details
Registered charity name Bay Leisure Umited and Its Subsidiaries
Charity registration number 1190403
Company registration number 06337728
Principal office and registered Suite 4
office St Helens
Rugby and Cricket Ground
Bryn Road
Swansea
SA2 OAR
The trustees 3 A Charles
R G Davies
P N Hawklns
R D Thomas
M K Williams
P H Thorbum
Company secretary D 3 Evans
Auditor Clay Shaw Thomas Ltd
Chartered
accountants		 tk statutory auditor
2 Oldiield
Road
Bocam Park
Brldg end
CF35SU
Bankers Barclays Bank Pic
262 Oxf'ord Street
Swansea
West Glamorgan
SA1 3BR

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Consolidated
St
31March 2023		 atement of Financial Position
2023 2022
Note E 6
Fixed assets
Intangible
assets		 20 234,620 566,323
Tangible
fixed assets		 21 1,915,472 3,061,439
2,150,092 3,627,762
Current assets
Debtors 23 719,472 1,032,858
Cash at bank and in hand 862,264 1,161,175
1,581,736 2,194,033
Creditors: Amounts falling due within one year 24 1,589,347 1,989,301
Net current liabilities (7,611) 204,732
Total assets less current liabilities 2,142,'l81 3,832,494
Creditors: Amounts falling due after more than one year 25 219,619 667,855
Provisions 28 45,000
Net assets 1,922,862 3,119,639
Funds ofthe charity
Unrestricted
funds		 1,922,862 3,119,639
Total charity funds 30 1,922,862 3,119,639

Charity Stateme
31March 2023		 nt of Financial Position
2023 2022
Note 6 6
Fixed assets
Intangible
assets		 20 481,577 936,757
Tangible
fixed assets		 21 1,915,472 3,061,'i39
Investments 22 100 100
2,397,149 3,998,296
Current assets
Debtors 23 722,767 961,307
Cash at bank and in hand 724,873 960,979
114471640 1I922I286
Creditors: Amounts falling due within one year 24 1,744,788 1,965,341
Net current liabilities 297,148 43,055
Total assets less current liabilities 2,100,001 3,955,241
Creditors: Amounts falling due after more than one year 25 219,619 667,855
Provisions 28 45,000
Net assets 1,880,382 3,242,386
Funds ofthe charity
Unrestricted
funds		 1,880,382 3,242,386
Total charity funds 30 1,880,382 3,242,386

2023 2022
6 6
Cash flows from operating activities
Net Income/(expenditure) 185,950 (322,416)
Adjusrrnenrs
for:
Depreciation
of tangible
fixed		 assets 582,811 636,392
Amortlsatlon
of intangible
assets		 68,768 97,084
Other interest receivable
and		 slmfiar Income (1,860) (649)
Interest payable
and similar charges		 101,404 153,206
Loss/(gains)
on disposal oftangible		 fixed assets 2,295 (7,858)
Taxation 37,212 44,645
Accrued (income)/expenses (111,020) 47,683
Extraordinary
items		 (326,666)
Changesin:
Trade and other debtors 69,879 (88,269)
Trade and other creditors (36,778) 113,784
Provisions
and employee
benefits		 ('I5,000) 45,000
Cash generated
from operations		 526,995 718,602
Interest received 886 649
Tax received/(paid) 206,295 (77,765)
Net cash from operating
activiiies		 734,176 641,486
Cash flows from Investing activities
Purchase oftangible assets (254,440) (26,0'I9)
Proceeds from sale oftangible assets 22,175 8,333
Net cash used
in investing
activities		 (232,265) (17,716)
Cash flows from financing activities
Repayments
of borrowlngs		 (112,226) (83,744)
Payments
of finance lease liabilities		 (688,596) (842,781)
Net cash used
in financing
activities		 (800,822) (926,525)
Net decrease In cash and cash equivalents (298,911) (302,755)
Cash and cash equivalents at beginning ofyear 1,161,175 1,463,930
Cash and cash equivalents at end ofyear 862 264 1 161I175

the useful econ omic
life ofthat		 asset as follows:
Long leasehold property 10% - 33% straight line
Motor vehicles 20% straight line
Equipment 10% - 33% straight line

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E E E E
Grants
Government grants - Coronavirus 1ob
Retention Scheme 43,090 43,090
Government grants - Local Government
Coronavirus Grants 99,106 99,106
142,196 142,196
6. Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E E E E
Health
and		 fitness 4,501,642 '},501,642 3,885,626 3,885,626
7. Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E E E E
Vending
machine		 commission 16,313 16,313 12,715 12,715
Retail sales 325 325 86 86
Room hire 35,848 35,848 34,205 3'I,205
Other income 7 7
52,493 52,493 47,006 47,006
8. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E E E E
Bank interest receivable 886 886 25 25
Other interest
receivable		 624 624
886 886 649 6'19

Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E 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 2023 Funds 2022
E E E
Retail purchases (367) (367) 504 504
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E E E
Health
and fitness		 3,700,894 3,700,894 3,820,913 3,820,913
Support costs 629,037 629,037 539,689 539,689
4,329,931 4,329,931 4,360,602 4,360,602

nditure on charitable
acti		 vities by activity typ e
Activities
undertaken Total funds Total fund
directly Support costs 2023 2022
E E E
Health and fitness 3,700,894 36,604 3,737,498 3,856,450
Governance costs 592,433 592,433 504,152
3,700,894 629,037 4,329,931 4,360,602

Analysis ofactivities un dertaken
directl		 y
2023 2022
E E
External Instructors 93,262 83,059
Staff costs 836,786 799,071
Operating
leases		 667,027 682,662
Rates and water 117,869 95,955
Light and heat 261,857 223,228
Other establishment
costs		 194,972 197,335
Insurance 44,200 46,543
General consumables 48,127 39,414
Advertising 185,947 216,1'l9
Other office costs 12,390 15,988
Amortlsatlon
of intangible		 assets 68,768 97,084
Depreciation
ofequipment		 579,836 633,415
2023 2022
E E
Interest on bank loans and overdrafts 11,392 8,744
Interest on finance leases and hire purchase contracts 89,038 142,850
Licences 64,323 53,966
IT costs 39,621 52,164
Irrecoverable
VAT		 317,112 312,342
Retention
costs		 68,367 75,944
Provision for onerous lease 45,000
3,700,894 3,820,913

13. Analysis of support co st s
Health and
fitness Governance Total 2023 Total 2022
E E E E
Staff costs 484,449 484,449 419,114
Premises 9,645 9,645 9,824
Communications
and		 IT 8,720 8,720 10,976
Telephone 20,995 1,270 22,265 24,162
Operating
leases		 20,941 20,941 15,101
Licences 12,673 12,673 160
Other office costs 2,085 2,085 1,880
Irrecoverable VAT 10,817 10,817 6,570
Depreciation 2,976 2,976 2,976
Legal and professional fees 24,857 24,857 24,310
Audit fees 14,000 14,000 12,000
Travel and subsistence 14,635 14,635 11,004
Interest and similar charges 974 974 1,612
36,604 592,433 629,037 539,689
14. Other expenditure
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
E E E E
Loss on disposal of tangible fixed assets
held for charity's
own		 use 2,295 2,295
15. Net income/(expenditure)
Net income/(expenditure) is stated aRer charging/(crediting):
2023 2022
E E
Amortisation of intangible assets 68,768 97,084
Depreciation oftangible fixed assets 582,811 636,392
Loss/(gains) on disposal oftangible fixed assets 2,295 (7,858)
Operating
lease rentals		 687,968 697,763
16. Auditors
remuneration
2023 2022
E
Fees payable for the audit ofthe annual report and consolidated
financial statements 14,000 12,000
Fees payable to the charity's auditor and its associates for other services:
Taxation compliance services 1,550 1,650

Staff co sts
The total staff costs and employee benefits for the reporting period are analysed
as follows
2023 2022
E E
Wages and salaries 1,119,379 1,012,934
Social security costs 91,556 81,670
Employer contributions to pension plans 110,300 123,581
1,321,235 1,218,185
time equivalent
employees

during the year ls a
nalysed
as follows:
2023 2022
No. No.
Management 3 3
Administrative 2 2
Operational 56 55
61 60
The number ofemployees whose remuneration for the year fell within the following bands, were:
2023 2022
No. No.
2 2

Total extrao rdin ary
costs		 for impairment
losses at the Cardiff Bay		 site were as follows:
2023
E
Impairment of leasehold Improvements 'l63,168
Impairment of equipment 236,076
Total 699,244

2023
E
Restructuring provisions 326,666
Loss on disposal of goodwill 262,936
Loss on disposal of fixed assets 93,88i
Total 683,483

Intangible
assets
Goodwill
E
Cost
At 1 April 2022 970,929
Additions
Dlsposals of previously acquired businesses (485,464)
At 31March 2023 485,465
Amortisation
At 1April 2022 404,606
Charge for the year 68,768
Disposals of previously acquired businesses (222,529)
At31March 2023 250,845
Carrying
amount
At31March 2023 234,620
At 31 March 2022 566,323
Charity
Cost
At 1 April 2022 1,075,000
Dlsposals of previously acquired businesses (331,703)
At 31March 2023 743,297
Amortlsation
At 1 April 2022 138,243
Charge for the year 109,927
Dlsposals of previously acquired businesses (68,768)
Impairment
losses		 82,318
At 31March 2023 261,720
Cay)'ying amount
At 31March 2023 481,577
At 31 March 2022
936,757

Tangible fixed assets
Leasehold Motor
improvements vehicles Equipment Total
E E E
Cost
At 1April 2022 2,880,248 14,858 4,102,539 6,997,645
Additions 202,296 52,144 254,440
Disposals (171,043) (172,322) (343,365)
At31March 2023 2,911,501 14,858 3,982,361 6,908,720
Depreciation
At 1April 2022 1,728,064 10,126 2,198,015 3,936,205
Charge for the year 230,635 2,976 349,200 582,811
Disposals (69,275) (155,738) (225,013)
Impairment
losses		 'i63, 169 236,076 699,245
At 31March 2023 2,352,593 13,102 2,627,553 4,993,248
Carrying
amount
At31March 2023		 558,908 1,756 1~354I808 1I915I472
At 31 March 2022 1,152,184 4,732 1,904,524 3,061,440

Charity
Leasehold Motor
improvements vehicles Equipment Total
6 6 E 6
Cost
At 1April 2022 2,880,248 1'l,858 4,102,539 6,997,645
Additions 202,296 52 144 254I l40
Dlsposals (171,043) (172,322) (343,365)
At 31 March 2023 2,911,501 14,858 3,982,361 6,908,720
Depreciation
At 1 April 2022 1,728,064 10,126 2,198,015 3,936,205
Charge for the year 230,635 2,976 349,200 582,811
Dlsposals (69,275) (155,738) (225,013)
Impairment
losses		 463,169 236,076 699,245
At 31 March 2023 2,352,593 13,102 2,627,553 4,993,248
Carrying
amount
At 31March 2023 558,908 1,756 1,354,808 1,915,472
At 31March 2022 1,152,184 4,732 1,904,524 3,061,'l40

Equipment
6
At 31March 2023 959,603
At 31 March 2022 1,727,669

SUBSIDIARY COMPANY Simply Leisure Ltd
HOLDING 100Ordinary E1 shares
% HELD 100

Debtors
2023 2022
E E
Trade debtors 15,621 BI424
Deferred tax asset 37,212
Prepayments and accrued income 700,684 780,927
Corporation tax repayable 206,295
Other debtors 3,167
719,472 1,032,858
Charity
2023 2022
E E
Trade debtors 12,288 4,982
Amounts
owed by group undertakings		 175,398
Prepayments and accrued income 700,684 780,927
Other debtors 9,795
722,767 961I307

Creditors: Am ounts falling due within one ye ar
2023 2022
E E
Bank loans and overdrafts 99/630 100,000
Trade creditors 694,959 733,973
Accruals and deferred Income 415,533 518,805
Social security and other taxes 29,200 28,425
Obligations under finance leases and hire purchase contracts 340,899 600,433
Other creditors 9,126 7,665
1,589,347 1,989,301
Charity
2023 2022
E E
Bank loans and overdrafts 99,630 100,000
Trade creditors 694,614 733,973
Amounts
owed		 to group undertakings 178,852
Accruals and deferred Income 415,533 518,806
Social security and other taxes 15,260 8,606
Obligations under finance leases and hire purchase contracts 340,899 600,433
Other creditors 3,523
1,744,788 1,965,341
Creditors: Amounts falling due after more than one year
2023 2022
E 6
Bank loans and overdrafts 124,537 225,000
Obligations under finance leases and hire purchase contracts 95,082 442,855
219,619 667,855
Charity
2023 2022
E E
Bank loans and overdrafts 124,537 225,000
Obligations under finance leases and hire purchase contracts 95,082 442,855
219,619 667,855

The total futu
follows:		 re
minimum
lease payments
under
finance
le		 ases and
hire purchase
con		 tracts are as
2023 2022
6 E
Not later than 1year 340,899 600,433
Later than 1year and not later than 5 years 95,082 442,855
435,981 1,043,288
Charity
2023 2022
6 E
Not later than 1year 340,899 600,433
Later than 1year and not later than 5years 95,082 442I855
435,981 1,0'l3, 288

The defe rred
tax included
in the consolidated
statement
of financial
posi		 tion
is as follows:
2023 2022
6 E
Included in debtors (note 23) 37.212
The deferred tax account consists ofthe tax effect of timing differences in respect of:
2023 2022
E E
Unused tax losses (37,212)
Charity

onerous
contracts
E
At 1April 2022 45,000
Charge against provision (45,000)
At 31March 2023
Charity
Onerous
contracts
E
At 1April 2022 45,000
Charge against provision (45,000)
At 31 March 2023

Unrestr icted
funds
At 1 April Prior year At 31March
2022 Income Expenditure adjustments 2023
E E E E E
General funds 3,119,639 4,555I021 (5,751,798) 1,922,862
At 1April Prior year At 31 March
2021 Income Expenditure adjustments 2022
E E E E E
General funds 3,697,925 4,083,335 (4405 751) (255I870) 3,119,639

Analysis ofnet a ssets between
funds
Unrestricted Total Funds
Funds 2023
E E
Intangible assets 234,620 234/620
Tangible fixed assets 1,915,472 1,915,472
Current assets 1,581,736 1,581,736
Creditors: amounts falling due within one year (1,589,347) (1,589,347)
Creditors: amounts falling due aRer more than one year (219,619) (219,619)
Provisions
Net assets 1,922,862 1,922,862
Unrestricted Total Funds
Funds 2022
E E
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

Anal ysis ofchanges
in net debt
At
At 1 Apr 2022 Cash flows 31Mar 2023
E E E
Cash at bank and In hand 1,161,175 (298/911) 862,264
Debt due within one year (700,433) 259,904 (440,529)
Debt due aRer one year (667,855) 448,236 (219,619)
(207,113) 409,229 202,116

2023 2022
E E
Not later than 1year 441,629 630,993
Later than 1year and not later than 5 years 1,656,187 2,295,773
Later than 5 years 4,349,320 5,465,130
6,447,136 8,391,896
Charity
2023 2022
E E
Not later than 1year 441,629 630,393
Later than 1year and not later than 5 years 1,656,187 2,295,773
Later than 5 years 4,349,320 5,465,130
6,447,136 8,391,296