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