COMPANY REGisfRATION NUMBER: 06337728 CHARITY REGIsfRATION NUMBEIL. 1190403 Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Annual Report and Consolidated Financial ststements For the year ended 31 March 2025 1111 •AEHHIOJ7* 1511212025 COMPANIES HOUSE A19 Bay Leisure Limited and Its Subsidiaries Charitable Company Limited by Guarnntee Annual Report and COTr￿11dated Financial statements-- Year ended 31 Marth 2025 Tnts, annual rwt (inCnrpOratw￿ the resKrt) Inde￿￿ent rem to the meTh Con501*Jat8J 5taterrtht of financial acbviiRs (indudiThJ income and expe￿li￿re ctsjnt) li CowlKJated stafrrrtht of financial ptsiK 14 statanent of cash flows Notes to ￿ annual rer#Jt axl a)￿4￿jat￿ finarKial stattyn 16 Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Trusttts. Annual Report (Incorporating the Directorfs Rq>ort) Year ended 31 March 2025 The trustees. who a￿ also the direrttys for the of company law. prewt ther repyt the Annual Report arthy Cc¥wldated financial Ststetwts of the tharity for the year ended 31 March 2025. Charity registration number 11g)403 Company registratlon Dumbtr 06337728 Principal office and reglstwed ￿lte 2D Building l Eastem &L5iness Pa St Melkjns Cardrff SEA The trustee J A Charte5 R G Dav￿5 P N Hawknn5 R D ThorT53S M K Williatrs P H ThLwtsJm D J Evars Audltor Xeinar￿n ￿Mite{l &Jite 2D St Me1kn5 Cardiff CF3 SEA Bankers 8arday5 Bar* Pk 262 Oxford Street Swansea West Gknv S413BR Bay Leisure Limited and its Subsidiarfes Charitable Company Limited by Guarantee Trusts￿. Annual Report (Incorporating the Directorfs.Report) <¢vththwdJ Year ended 31 March 2025 Goveming Oc(um•ft: ay Lgwre Limited was irnWM)rated cffl 8th Awust 2CK)7 arxl wi#tred with the Charity Commission on 14th Juty 2020. Bay L•"W￿ ￿mrted is a company limited ty guarantee and govemed by its Artic￿$ of Assoaation. Recruitrnent app)inlment of t￿￿. Trustee5 shall be pwsor6 wh) t￿￿]h reSKI￿, CKCUpati(￿. ernpk7￿ert or otherwise have 5peaal knowledge of the area of benefit cr who are otheTh￿ able by of their Ferg)nal or professtrjnal qualifiotions to make a Contr1tr￿ to the pur9Jit of the cttiects of the tharity. Trusiees are directors of the company fw the purpctse of company law. All tntstses as at the date of this reprrt and wh(th held Offi￿ thr￿9￿Yt the year are sPth¥n ￿ page l. ObieLtives and actlvltles T￿￿ cbiects rf the Charity are Sp￿rK￿l￿ restrictrd to the pronMx￿￿ of commLNMty participakn in I￿lthY recreation for the public benefft by the prowson of aThmunity gym faolitie5 aThJ rdatej exerase artiwties In prior year, the Charity ceasej its operational acbvibe5 foll￿Ing the sale of all it5 gyffrs to JD Sport5. The Tru5tees' current obiecbve 15 to o¥er5ee the wir*J-down of the Charity. wrth the intention to dissolve the thafity once the warranty peric4J asSOCiOted with the sale (which ewres on 31 Maroh 2027. three years from cc4npleb"on) has elapsed. At pres￿¢ thtre is fLThI plan in pkne for ihe ￿nd1￿j￿n proces5, and rL) ex•& date for dissolub.on has detwmined. ExFend*ure in the year rekted • to ￿Sta]nIng Charity duriw tTanth"onal pericMJ and wsuring that all obligath.orns ari&ng from the sale and the ChatTVs respYMsily"libes are appropriatsly managE)J. The Trustees confirm thal in li￿ wth the 0￿rity Commlssoon guidelit￿ on publk benefi¢ the Charws activities during this Feriod continue to SuP￿rt the proper cuKIusK)n of Its tharttable objectives. Strate4ic report The following Sections for achtevements ar¥J ￿forMa￿e fir4irKial review forni ts Strategic repcrt of the tharity. During the year. expaNliiure vms incurred sol* to maintain the Charity lJwcwgtrhJrt this transbonal period and to erfju￿ that all obligab.ons ari9ng from the sate *Ere rnart￿ed. The.Trustee5 confim thal in accordance with (hanty ComMissh￿ gum1a￿e C￿ wblic benefiL the Chanivs aLtvib"es duntvJ t￿$ time continue to faolitate the approprkite conchJgon of its tharitsble objthes. The TrU￿ee￿ currert is on an wind4cwn of the Charity, ￿th inteniion of divA)Iving it On￿ the warranty related to the expl￿ ￿ 31 Marth 2027 (three year5 from (￿llp￿tion). At presenL thwe formal WI￿l-{b￿n plan in and no definthe date for dissoiution has been seL Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Trustees. Annual Report (Incorpornting the Dirertorf.s Report) Year ended 31 March 2025 The Sa￿ to JD SpNts and dosure of &mpty Gym Cardrff Bay ￿ ¢3)￿lU￿1 by the rynisation prior year. The transactiors maximised the av711￿e rebjm to the Charity on the a55ets l*ld and allowèj the organisation to exit a market vthKh was tr*coming ifKTeasingty ￿liVe sKJnificant risks to continuiro Viabil￿￿. Flnancial review Durin9 the 2024125 finarKial ￿r, the aHrity recryded a rt dtht of £568.667. At the end of the rewrting (harity remairts in a solid firki￿la1 pjgtson, as is shown by the Consoltdated Statement of ￿nanc￿lI pO&￿n on page 13 of these finanoal statements. The Charty ha5 unrethcted fund5 of £2,782.145 a￿1 a'cash balarKe of £2,833.197 at the re[￿rtir￿j date. Followng the sale and dOSu￿ of all tradirtg actM"b"es in wior yew. the Ctharty no brvjer operates in its prewous capaaty. Although the Charty will rn lorrfjer trade aThJ operdte gym facilities. it will continue its £￿StenCe in the ftsreseeabk future to seiue all finar¥ial obligatiorts as tw fall due. 9Jrplus cash reserves 11 be dithlxtyj in a(Crydan￿ with tr* ¢)kiriVs coiects at the tin*. The trustees. who are also dirertors fcrf the purEk%es of company law, are rtspongble for weparing the trustee5' repKrt and the Annual Rerx*t and CorsolKJated ￿nan(la1 Ststfftnts in accordan￿ with appI￿able law and Unlted ￿ngdoM ￿￿nI1￿j %andèrds (Un6bJ Wdom C*neralty P£certed ￿[￿ntIng Practice). Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Gu¥antsè Trust* Annual Report (Inco￿￿ratIfig the Dlrectotrs Rw)rt) (awkn7) Year ended 31 March 2025 l¢f eath yw wFth glve a aThJ faff of 41klr5 of the ttwritrble company ar•J the Inmmlftg res(￿r￿ and applk?tkn ol re￿r(e5. JIK￿￿￿ and ewditrJr< tr that sxrtijt. Prepare Ihe knnual Report and Q¥￿01kIated F￿al￿1 Ststwrth5 on tr gyng oY¢•Tr un*55 it thartys trarfja*"ors and disclose hilh reasoroue at any the finanoal P2￿ of tharity and ertable them to erwe thot the Anrvjal Report and ConsoNd*d Hnanrijl Statements ¢tynpty with the Cryry>anles PLt 2C¢fi are *0 for s*guarnth"ng the assets of the o*rity oftht petson5 ts a trLL*e * the dts ctaprnl dtlms ttfifinns that: )aware: arxl they have tskw all step5 that tly oughtto tskw as è tn&* ￿ make thwstsdves aware d ary .. ￿ sjgned on bphaff c*the t#Jard of trU￿ee$ by: M K vth4la￿. PHThknm Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Independent Auditor'5 Report to the Members of Bay Lelsure Limited and its Subsidiaries Year thded 31 ma￿ 2025 Oplnlon We have audited the Annual Rel￿t a￿1 COn￿ld￿ HnarKial Ststemert5 of Bay Leisure Limited and it5 Subsidiaries (the 'charity') the year ended 31 March 2025 whith cofflpri5e the con501idated ststernent of finanaal activities (induding income aThJ expendibjre accc*Jnt), CO￿71dated ststement of finarrial position, ststement of cash flows and the rdated ncte5, induding a 9Jmmary of significant xcryjnting polioes. The financial reporb.ng fran￿￿)Ik that has teen ap￿1￿j in their wepardtic￿ 15 applicabbe law arhd United Kingdom Accc¥Jnting Standard5. irKluding FRS 102 The financial Reporting Sts￿lard applicable in the UK and Republic of Irdand (Unittij Gen&ally kcepted knntiNJ PraLlice). In tyJr ￿InIOn the Anwal Rwrt and Cornw￿lted fina￿la1 5tstW￿ts. gfve a In￿ aTrJ fair of state rf the p￿t and group s affairs a5 at 31 March 2025 and d ts i￿OmIng ￿e￿UrCeS and of reX￿r￿. ts irKtsme eXp*KjitiJ￿. for ￿ year eTh1ed' have been prerhired in accordan￿ vrith United Generalty ￿￿Pted Accounting Practice: Basls ft•r oplnlon We condurted our audit in exCNthn￿ with Intemational st￿￿ts C￿ (Uf) {tS4s (UK)) and applicable law. ￿ponsiLl1ttieS Lnjer those st￿d￿d$ are fvrther ￿￿bed in the aKJitsfs res￿nSIbIlItieS for the audit of the annual ￿pttrt and consc4￿ated fina￿14 ststements s￿bOn of our reFA)rL We are indwdent of the charty In Kcorthrtt with ihe ethKal requirements that are re￿ant to ow of the Annual Rewrt and Consolidated Anancol Ststements in thè ir￿￿￿11ThJ FRC'S Elhral St8rn1arl, aTKI we hwe fvffilkd our other ethirAI re5wnsibilitses in acCor(Ja￿e with these r￿uirements. We that tt* audr( eviden￿ we ha¥e obtained is gjffic1￿t aThJ approwkite to wovwje a basis for (Njr o￿nIort. We draw attent￿￿ to Ncte 3 -6)irvJ ccrfKem to the firTranoal explayts that the Charity ceased its gyTn operations in March 2024. Despts th￿, the Trustees have wepared the fina￿la1 siètements on a goir concern basi5. 35 they tr) not ojrrentty have any plans to dssofve or up the C￿ty the foreseeable ftjbjre. Our opinion 15 not In rw of this matter. Bay Leisure Limited and its Subsldiaries Charitable Company Limited by Guarantee Independent Auditorfs Report to the Members of Bay Leisure Limited and its Subsidiaries (a¥rt¥WJ Year ended 31 March 2025 Other infomwtion The other infomwb.on Cornpr￿ ts lnfcffM￿ IK1￿ in tre amual rekhy¢ ots than the Annual. Report arKI Consolthted ￿nanCIal Slate￿*￿ts and aL*Jitorfs reF(*t ther￿￿. The trustees are responsible for the other inforn￿tion. Our ¢¥In￿ the Annual Report and consol￿ated Financial ststements does not cover the other infryrnation and. except to the extent othermse explicfty stated in cyJr repMJrL we do not eJpres5 any fcffrn of a55urano c￿￿kn10n there￿. In connection with (yjr audr( of the knnual arKI Qfflsolidat8J finanaal Ststements, our ￿S￿n￿bIl￿ is to read the other information and. in doing so, c£fftsider whether the other informati¢)n is material inconsistent wilh the Annual Rewrt and ConsolKlated ￿nanUal Statements. or knowledge obtsiped in the a￿￿(¢ or othewse apFeats to be Materki1￿ misststed. If we identify suth material in0)nsiste￿Ie5 or apparent nkiten.al ￿$Stat￿l)ents. we are ￿￿lre1 to detwri￿ whet￿r thtre s a material misgatement in the Annual ReKMXt and CowAidateil financial StstemeJts or a ffk4tsrial mi5ststement of the other information. If. based on the work we have pthrmed. we ￿ude that is a material misstatement of this lnf0miatic￿, we are rquired to reFtyNt that f We have nothing to rerxrt in thi5 regard. In (￿r opini¢Jn. based ￿ the AY)rk uNJertaken in the cwr5e of the aL*Jtr. the information given in the tnL8teeg the fina￿la1 year ts wh￿h the Annual Report and Consolidated Finanaal Ststements are prep¥ed is C£￿&Stent wth the Anr￿al Rewt and Conwlidated na￿31 Ststements; and the truth¥ report has been prepared in ac0Ydan￿ with applicable legal reqwrements. Bay Leisure Limited and its Subsidiaries Charftable Company Limited by Guarantee Independent Auditor's Report to the Members of Bay Leisure Limited and its Subsidiaries fo￿￿7￿) Year ended 31 Marth 2025 In the Ivjht of tt* knowledge and (￿￿￿￿1ng of the tharity arKI ts enmronment c&tsined In the o)urse cl the audt¢ we have not Klentir￿d materval mi5Statements kn the tru5tee5' rephJrL We have nothiThJ to rwt in respect of the foMowiThJ mattets in rdation to the Ccffipanie5 kt 2006 require5 US to rekKrt to you rf, in our c(#r￿. adequate accounting recorts have not been kepL ￿ rthrrs adequate for (￿r audit have not been r￿￿Ved from t￿anchts not visiw by u5. IX the Annual Re[￿ and Cor￿lIdated FIna￿tal statem￿ are not in agreement wlh the accounting reccfds and rebJms; we have r*Jt reca¥ed all the information and eYtAanatbJns we r￿uIre for cyJr èud Responslbllltle5 ￿ trustees As explained mre ful￿ In the tnjstees. rwx6ibilitie5 Slater￿ the trLtsiees (W￿ are alw the directors for the purpose5 of compary kw) a￿ re5t*)n%ble for the preparabcn of the Annual Report and Consolidated Firtanckil Statements and for l*iro satisf*d that tw gNe a true and fair view, and for such internal control as ￿ trustees detefmine 15 necessary to enab￿ the pyeparabcrf of Annual Report and Consclidated finanoal Staterr￿ts ttiat are free ftom material Misstat￿￿( whether due to fraud or error. In preparing the Annual Rwrt and con9￿1dateJ ￿nanCIal State￿￿. the tru5tee5 are responsible assessing the charitys abilty to continue as a goir#J concem, as ap￿iCable, matters related to g￿n9 cOn￿rn and usirrfj the gjing corKem ba&s of acc￿jnting unless the tru5tee5 th wttend to liwidate the tharty or to ￿ase operations, or have no realistic alternative but to do so. Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Independent Auditorfs Report to the Members of Bay..Leisure Limited and its Subsidiaries Year ended 31 March 2025 Auditorfs responsibiliies for the autht of the annual report and con￿1•dated fin•nei•l st*ments Chjr objectNes are to obtsin reasrmwbk a$Wran￿ aljyrt whetr*r ts Annual Report and Consotidatsd Financial Ststements as a wh)le ¥e free from material miSstaten￿rtL whether due to fraud tr error, and to i55ue an auditorfs rewrt that Ir￿￿deS otyn￿. Rea￿￿ble aS￿rar￿e is a hNJh level of assura￿. but is not a guarantee that an audit ccrtlurted in rtxordan￿ wrth ISAS {UK) 7MII always deteLI a mèterial misststement when it exists. Misslaten￿ can arise frryn fraL¥I or err￿ an¢J are congdered matertal rf, in¢JMdually or in the aggregate, could rea50nabty to infiueno tre ecownic dgigons of users tsken on the l)a5u% of these knnual ReFKrt aryl ￿5011dat￿A F￿an0a1 Statemen Irregularities, I￿Udir¥j fraud, a￿ instan￿5 of nOn￿1van￿ with la￿ and regulat￿5. We design procedure5 in line with our resFon&lNlities, wtjined abm, to detect rnaterial misStatem￿ts in respect of Irregular￿e5, induding fraud. The extent to whith our wcK8Jwes are capable of dtttiThJ irregularTtie5, induding fraud is detsikd trth: The Charty is subject to laws and regulat)"￿6 that thrertty affert the fironcial statements Induding finarrial rep)rting legI￿ation. We determin&J that the ftllowng laws atKI regulatiors were rnost sKJnifiort induding UK Companies A¢ empbyment L3w. health & • regula￿n$ aThJ lax ￿giSlatiOn. We assessed the extent of 0)mplian￿ wrth laws ar￿ reguktjons as part of our wocedures the rei)ted financial slatement iiem& We understocxl how the Charity is comFAwrvJ with thc6e legal ￿ regulatory framertorks by. maknr inquiries to Manag¥￿ thcse res[￿1b￿ fw legal and (omptie4Ke wrxeiktts. The engagernent partner assessed ¥Yhethw the er￿a9eff￿nt team collectsvety had the appropriate cornpeter￿e and capabilibes to identify C￿ rwnise non-complian￿ with laws and regulat¥￿5. The asSe￿rnent did not identify any s%ues in this area. We a55essed the susceplitility of the Charity finamal #atern￿ to material misststemen¢ indudirKJ how fraud might occur. Aud* rvI￿d ty the engagement team ir**Jde(i: . Identify¢rwJ assessing the d￿n ccrftrols mwemurt has kn plao to prevw* ark detect fraud: . UnderstandirvJ how those tharged with managenEnt cowdered and addressed the tA)￿la1 for override of controls tr other inapKxopriate influence over the fina￿la1 repbytiry prc(essi . ChallengiTrJ asAmptions and judgments made try managartht in its sNJnrficant aCC￿nting estimatss; and . We a&£essed the ri4¢ rf material misstate￿ of the firh4n(ial statements, ind￿ing rsk of material misststement due to fraud and hrA¥ t rThgM (L￿r. ty trK4diNJ ￿1th mar}ageft￿t a￿1 reV￿rtIr￿j journal entries. Beouse of the In￿nt limitatior6 rf an a￿¢ there ts a r&( tt￿t we will rKt detect al irregukiribes, induding those leading to a mtsial MI￿ternent in the finan(ial statements or Th)n-compliance with regulafjon. This risk Increa￿ the nve that ccfflpliance with a regulation is ￿MoVed from tt events and transath.orfj rderted in tr* finanoal ststements. as we will be less likety to become a￿￿ of InStsn￿ of ncfi-c0m￿lOn￿. The risk is also greater regarding irwularth5 Ctcurring due to fra￿ rather than error, as fraud involves intsniional COn￿lm￿L forgery, thuusion, omission or misrepresentstion. Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Independent Auditorfs Report to the Memb￿5 of Bay Leisure Limited and its Subsidiaries Year ended 31 March 2025 As part of an aL*Jit in accl¥dan￿ with IS4$ (UK). ¥￿ exwctse wofewnal judgM￿t and maintsin profes9L￿￿ scepti(Ism througW the audL We also: Idaltify and assess ￿ risks of material Missti￿t of the Annual Rwrt and Cong)lidated nancial &aternents. wPther due to fra￿1 (r effcf. desgn [￿c￿ audit prttedures responsNe to those risks. and obtsin a￿jr( ev[der￿e that Is 9Jthent ar*J awopriate to pmwde a ba&s ffx our o￿n￿. The risk of not a matenal misststemert resutting frcrfn frJJd is hKJher than for one regjknng from errtr. as fra￿1 may inv(Ive ttAIus0n, intentK)nal omissions. nwsrepresentsiKY6. or the Iwerride cl interna cTrtrol. Cknin an uThJerstaThthThJ of internal ccrfrtrol rethnt to the autlit in cffder to deggn aLKlit prc(edures that a￿ approprote in the Or￿n￿ar￿5. lyrt the wrr*)se of exkywing an opinion (fft the effectiveness of the internal contrd. Evaluate the apwopriateness of accountirKJ ￿¥￿￿1e$ Used the reasonabkns of accountry estimates and rdated dthures made by the tr￿. based on the audit e￿den￿ obtsined. wWier a materkil urwtsinty e¥ists related to events or conditY￿s that may ￿$t srgnificant doubt on the tharivs atslty to C￿liA￿ as a going (oncem. If we condude that a material uncertainty ￿$ts. we are requireo to draw attentw in our audrtorfs ￿pOrt to ￿ rektgj disckmes in the Annual R4KJrt and CorTh￿￿1ated ￿nan0a1 Ststements or. rf suth disclosures are inadequate. to m(*Jify our opinion. Our Cl￿d[L5￿)n5 a￿ based on the audit evhlen obtained up to the date of audftorfs reiyJt. FkM¥w. fvtwe e4ents or condth15 nw QLSSe tharty to cease to cC￿tinUe as a 9JiThJ concem. Evaluate the overall presentstion. stnjcture aNI content of the Annual ReF*Jt aTrJ Consdidated Finanaal Statements, indudirKJ the disch￿res. and whthr tt￿ Report and Con9Iidated nanoal Stat￿￿ents repreS￿t the urhlertyirwj trlrt5ad￿S ar¥J e¥￿ts i) a manner that athieves fair presentstIc￿. Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guardntee Independent Auditor's Report to the Members of Bay Leisure Limited and its Subsidiaries (C￿￿￿￿••¥} Year ended 31 March 2025 We communicate with those d￿ryaj wth 9)Vwnan￿ r￿arding. anK>rwJ cthtr fflatt￿ the ￿nned scope and timing of the audit and 5ignifKant •J(It fThJ1r￿5. i￿Ing any ￿nIficant def*￿cleS in Irt￿￿1 crrftrol that we identfy during ?￿j Use of our iyport This report is made soldy to the thariVs Mem1￿5, as a t*)*, in accordan￿ with Chapter 3 of Part 16 of the Companies Att 2C#)6. Our audit work ha5 been undertaken ￿ that we might stste to the charrws mbers those matters we are wuir8J to state to them in an audthrfs rem arhj for no other purp)se. To the fulkst extent permittsj by law. we do not actept cf asgjme respjnslmlity to anyone other than the d)arity arnd tr* charitls members as a bcdy. for a￿lIt for ttms reprt or for the opinions we have formed. Tania Cre99 FCCA (Senior str￿y Auditor) For and on t)ehalf of Xeinadin Audit LinNted (ststutory AU<￿tOr} Suite 2D Building l Eastern Busness Paik St Mdlor CF3 SEA Irl(Ilzr -io- Bay Lelsure Umlted and Its Subsidiarles Charltable Company Llmited by GuJTrThtee Yearended 31 Mjrth 2025 2024 Owthble Cthr trading thtie5 4￿39.$2s 4.S39.525 45 45￿2 17 174 Tglwl In¢*mÈ 95.￿ 4.SWI 4.5￿,￿)1 Expethdii￿+ raL￿roj ftar&'. (V9n) (46L971) 13I31123) [5￿3.123) 146L9ni Iwg?11 (3￿3.123) (3￿33.11)I 1367MII (Tr.691) 751Tr 751￿?￿ (AlTr,9761 Pty).976) 67￿￿ 676￿n 1568.66n 1.427,VJJ L427.Wl Bay Lelsure Ltmited and its ￿bSId1alles Ch•rltable Company Umlted by Gwirnnt Con501idat•d Stat•ment of financial kli¥itsts (Indudiry In¢•m• and Exp•xliiurt Acthunt) (ÈwA***J Year 31 Mar(* 2025 Tthl fund5 ￿Jht￿otw￿d Reall(tstion Ol￿Or 13V12 3JW12 17PX7111 1.92Z I￿.5n InL14S 17414S 33gJ.812 Bay Leisure Lirnited and its Subsidiaries aiitable Company timited by Guarnntee Consolldlted Statement of Flnan¢ial Posftion 31 March 2025 2025 2024 Tanoujk fhed assds ifj 25,000 25,000 Currnnt assets Debtors rash at bank and kn h¥&1 1051 33.197 261.224 3J&S,212 3.627,436 1835,248 Creth)rn* Amoynts due wlthln oneyar Ilet Curr￿t assets 19 53,103 1782,145 1782,145 301,624 3,325,812 3,35),811 Total issets14s9 IlalMTrties CreJilrM¥: Amothits f•lliwJ dye •ft•r th•n om y 2,782,145 3.350,812 ftd$ otthè osition 31 March 1025 25 T￿g￿lIe fixed assd5 16 17 100 loo io) 25,100 Debtors Cash at aThl kn hand 2.051 2.833,197 2.835248 276P)5 3.193.645 3.470.450 416.143 2,419,105 2.419,205 516,Y9 2,954,101 2.979,201 Nettyrrent a5sers 1419,205 2.979.201 Funds oftheclwity Vnrethcbj fiJnd5 2.419205 2,419,205 2,9￿201 2.979,201 Totsl ¢lMtlty fvb These Ann￿1 Rep*Ni aKI aLth￿Se1 fvr on..11 !l.Ip.qS and a￿ *ned cffi behay ofthe t*)ard M K Wlllam5 Trustee The notes on pag•$ 16to 34 forni part Orth￿ Annual Cowlw FI￿￿£111 14- Bay Leisure Limited and its Subsidiaries Charltable Company Limited by Guarantee Consolldated Ststement of Cash Flows Year ended 31 March 2025 2025 2024 Net surplusl (deficit} 1568,667) 751,878 Depreciation of tangible fixed assets AJnoitsation of intangible assets other interest receiwdble and similar inccffie Interest payable and similar thar9es (Gain) on dispjsal of tangibk fixed assets Accwed income Exiraordinary items 352,227 46,946 (174) 122,020 (95,2WJ) (42.0￿) (381.0061 2.414.316 Trade and other debtrrs Trade and ott￿r ueditors 259,173 (248.521) 458,248 (466.677) 10.652 3,297,778 Interest rffeNed 95,280 174 Net from operaling acbwties (6LYJ,OIS) 3,297,952 Purchase of tsngible awts Proceeds from sale of tsngibk assets Net cash used in invesiirtsJ acb (12,325) 67.000 67.000 (12.325) Cash flows from finanong acb¥iknes Repayments of trx%roth"ngs Payments of finan￿ lease kbilibes Net cash used in finarKiTrJ aC￿￿tieS {237.8631 (543.816) (781.679) Net incveasel(decrease) In cth and •qul¥alents Cash and cash equivalents at be9innln9 d year Cash and cash equl¥*ents at end of y (533.015) 3.366,212 2.503,948 862.264 3.366,212 2.833.197 The notes on pages 16 to 34 form part of these Annual Report and Consdidated finandal Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Con501idated Finanaal Ststements Year ended 31 March 2025 The charity is a publK entty ar¥1 a wNate company limlted by guarantee, registered in England aTrJ Wale5 and a ￿l￿er￿j charity in EThJL3nd and Wal& The address of the registered tsffi￿ is Suite 2D. l Eastem &Jwness Pari St Melk)rKs Cardiff. cfJ SE These Annual Report ar*J Consolidated hwrKial Staierwts have Lwi preparwj in compliano FRS 102. The finanoal Repcxb"ng Stsndawd applicabk in the UK and the Republk of [￿land,, tt StstO￿nt of RecomM￿ed PractKe appI￿a￿e to thar￿e5 pre￿Tr3 ￿1r accounts in accordan vrith the Financkal Reporting Standard applic3L4e in the UK a￿1 Republic of Ireland IFRS 102) (Charities SORP (FRS 102)) aThJ the Companies kt 2(￿. Accounting policies Basis of preparnlion The financval ststements have been prep¥ed based a dscontinuarKe of tradirwj actsvityes during the 2025 accounting pwicrfl. Basis of consolidation The consdidated finanaal siatemerts incorporate the finanual statemerts of the Charity and all group undertaknngs. ￿ a tr￿S01￿1ated Ststefnent of ￿nar10a1 P£iiwtses ar>J irmme and expendrture count is pu￿1$hed, a separate Ststement of Finanoal N£tMbes for Ihe parert company s emitted from the gre￿p financial ststements 408 of the Companies kt 2006. 16- Bay Leisure Limited and its Subsidiaries Charltable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial Statements (a*¥bn￿) Year ended 31 March 2025 Going concorn charib.es nomulty prepare their acC￿nts on the bass of beir4J a going con￿rn. The trustees must make t￿r own aSSes￿ent of the chariws abilty to continue a5 a ￿r￿j concern to assure themsehRs of the validty of this as9JmpiM* w4hen wepMThJ Ktthjnts. In making thi5 assessment, a charit￿5 iTU5tr& Sh￿￿￿ tske into account all availab￿ infommtion atr#Jut the fu￿re for at tmrt nct limited to, 12 M￿th5 frcrfn the date the KctyJnts are apwoval. AJI charittes Th￿st explain if thwe are matwol uncertainbes related to events ￿ o)nOitions that cast signiffcant dwbt on the charitys aLxlty to cfjntinue as a ￿ng concern. In maknng their explanation, charities should wovth: a explanath)n as to fart￿5 that 9JPF*Yt tr* condL&on that the charty is a going cOn￿m. and è balarKed, prf4JOrtwote arxl de4V d1th￿re d ary utKertairties that makes the going conorn assump￿ doubifvl: or the acmunts a￿ not prepared on a going con￿rn basls. this fart must be dlsdc6ed, together with the basis whth the trust￿ prepared the accounts and the reason why the charity is rK)t regarded as a goiry c(MKem. In assessing whe￿r ￿ goirvJ CryKern assU￿ti￿ is aFwWe. the tYLts have tsken in to account all availabk infrKmation about the fvture. Having congdered the fOr￿asts, sensitswties and the availatle mitigabng act•￿$, the trustees have a reasonable expettation that the Charity has ad&]uate re￿)Ur￿ to a￿￿"nue in OFwational exisien for the foreseeabk fuiure and. accordir*Jty, ty C￿SKIer rt apwcywte to prep)re the financial statements on the going C(￿cern bags. The tru#ees do not believe are material uncertainties that Cast ggnificant doubt on the Charitys abilty to C￿tinue as a going corKffn for the perfc*J of at least 12 I￿￿thS from the d* of apwovBI of tse finarKial stater￿ts. Discontinued operdtions represart the complete discontinuatic￿ of, or di¥o5al of, a separdte line of bu5ine55 activty or CharItsb￿ actsvity not the S￿￿11r￿j wt c* a resthcted fiEr¥J. An analysys of continuwYJ aThJ discontsrn￿d operatiorLS has been &￿￿1ded in the SOFA by way of an add6tK)nal column. -17- Bay Leisure Limited and its Subsidiaries Charitable Company Limlted by Guarnntee Notes to the Annual Report and Consolldtted Financlal Statements Year ended 31 March 2025 The Qharity makes e*"mato£ assumptions ttJncemiThJ tre future. The rwlting accountrng estimates wll. by definiti￿. Se￿OM ￿Ual the welated ￿al rwlts. The estimates aTrJ asgjmptions that have signiftsnt risk of ￿￿Ing a material adJ"ustmpJt to the cmir#J amounts of assets and liabilitses wthin the next financial year are addressed bel￿￿. (i) Useftl ecorn)mic lives of tsngiye assets The annual depreciation d￿rge tarKJi14e assets b swsitive to charoes in the ￿lMated useful oncfflic lives and resKlual values of the a55ets. The useful tronomic live5 aThJ residual values are re-asse5s8J annualty. Tly are arner¥kd necessary to rellect turrent e5timate5. See note 20 for the carryirKJ amount ofthe prokW, pknt and equipment ar*1 3 for the useful economic lives for eath dass of assets. (l) Classifiotion of leases A kase is da&*r￿d as a finan￿ kne rf it transfers 9JtrAantia1￿ all the risks and rewards ivKklental to ip. A lease 15 dassified as an operating l&ise rf * does transfer substantialty all the ri*s and rewards inodental to ownership. Ihl*ther a kne is a finan￿ the or an operdting lease depeThJs on the 9Jbstan￿ of the lJansKtion rats than the form of the contracL The I￿arty will frm a jL*Jgement on eath lease WI￿ examp￿5 c+ Si￿￿tionS that indmdualty cf in in cornbination would normally ￿ad to a ￿ase ba'NJ dassIf￿￿ a5 a finan￿ lea* as fdlows.. The lease trar￿fets thynerth(p of the asset to the le55ee ty the of the lease tem; The lessee has the opb'on to kxjrchase the asset at a pr￿e that is expected to t* ￿ffic￿noY lower than the fair value at the date the opb.on t*comes exercisab￿ for it to be reasonabfy ￿[trIn. at the I￿eptIOn of the l&ise. that the opt￿￿ wll be exerciwj. The lease temi Is ts the w p3rt rf the life of the a￿t e￿1 If bue is r* trar￿fe￿￿. At the inception of the kase the present value of tr* mininwm lease payments amounts to at kast substantialty all of the fair value of the ￿ed 45set: and The leased assets are of gjch a sp&ialisgJ natyre that onty the le￿ ￿ u* them without Taxation The taxat*)n expense represents the ￿gregate arn(xrt of currert and deferrèa tsx recogrnsed li the reEk)rtlng pertc*J. Ojrrent tsx is recogntsed on tsxable or e>¥*Thliture for the ojrrent aid past ￿riOds. Current tax ts measured at the amounts of tax exr￿rted to pay or recover ustrvj tsx rntes and laws that have been enacied or substantrdy e￿a(￿l at the re￿rting date. Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated ￿ nanoal Statements CcthfftbnuÉdJ Year ended 31 March 2025 Accounting polkies Taxation Deferr8J tsx is rectyjntsed In r￿ of all timing differen￿ at the repyling date. Unrelwed tsx losses and Oth￿ deferred tax assets are reco)ni5ed to ￿ extsnt that it is probable that they will be recovered against the reversal of defts￿ tax 1ob"lilies (x other fviure taxable profits. Deferred tsx is measured using the tsx rates and that have be￿ pJ)arted or substsntively enactsd by the repoTting date that are exFected to app4y to the reversal of Ihe tim1￿ drffererte. Uftrestrkl￿ fijnds a￿ avaikbk ft* Lse at the d19tsi￿ InLQees to furth¥ any of ts thartys purposes. DeS￿nated fu￿1$ are unre*irted.fU￿l5 earmarked by the trLtstee5 for ￿7r￿Cular ftthre or ccrfnmitmenL Restricted fiJnds are subjected to re¥JKbon5 on thar ex￿dI￿re declared by the donor or through the teffl￿ of an a￿1 fall into one of t¥￿ skndaw.. restTKted irKome funds or end￿rnent fijnds. Incoming rtsources d*rity, it is probBble that the economt ben￿ts asscKiated with the transèttion will flow to the chority and ￿ aft￿nt can te ￿lIab￿ n￿rnI. Tr fOll￿1￿j sperfic are apF4ied to parti￿lar categories of income: and grants . reMiue grants are uedited as irKcxnry rescmrn in the p￿0￿ to wNch relate pTovkJed cc¥Nfition5 for receirt have t*en C￿l&j wlth. u￿ritable actiwtie5 . heakh and is recwi*l with the delivery of the (£￿tracted Trading income - all trading inc(*￿ 15 accounted fry on an accrua& t4sls. This Inco￿ irKludes aThJ beverage sales. retsil sales. r(Mn hire and soft pky. inVeSt￿t income . inv*nert Ir￿Me is accountsl for cffl an acryuals b￿"S relates to bank interest. Olher irKQThE - all other InconE 15 lTrthKled In ts siatwnent of financlal thlties In ts period to whKth it relates pro￿￿e￿ the charty Is *galty eTrtit￿ to ￿ incorne. -19- Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolldated financial Statements Year ended 31 March 2025 cwnting pali¢ies Expenditure is rec¢*Jni￿ ￿ an accTuals basis as a liablity is inajrred. Expendthre irKludes any VAT which cannot be fijlty rec0vw￿, dassified ur*Jer c+ the ststeThEnt of financial tiwtie5 to whKh it ￿lates. Costs of trading actsvit￿ comwtses thcfje costs *Kurred ty Ihe d￿rity in re4￿t of fotmd ar bevernge sale5. rets5J 5aks. nxj)) hive g)ft play. Charitable eX￿dbtUre comwses those costs incurred by the charty in the delivery of its activitie5 Wmces for ts beneficories. It indudes Lth costs that (an be allocated dirgJy to such vitres aTrJ t￿ costs of an indirect natyre necessary to SUPF¥Yt It￿L Supp*Nt costs are t1￿ that assi& the work of the tharity but do not directy repyesent tharitsble acbvitre& Gtsvernan￿ costs indude those costs as9)oated v•ith metirKJ the con￿lutiOnal and sta requirements of the charity arKI i￿ude the a￿lIt fee5 and co#s linked to the strategtc management cl trÉ charity. Al costs are a1￿cated bctrfftn the eX￿ftthre catwies of tr* ststement of finar￿la1 aCtsv￿es on a basis ¢J&19￿d to refiKt the u* of the res(yJrce. Costs relating to a partiL￿lar actrity are ayocated directy, rthers are appxbfftd on an aA)ropriate ba*5. Operatin9 leases Lease payments are reQ￿nised as an expwse over the lease tem on a straght-lne basts. The aggregate ￿nefit of ￿se in￿ntiveS is recc#3nLsed as a raj￿tI)n to eq)er6e over the lease terni. on a straight-IK* ba5iS. &MbHill arw on business acqui91￿ and rewe5￿ts the ￿(e$S of ts c05t of the acqui5ibon over the cornpany's interest ￿ the n& amount of the Klentifiable a55ets, Irabil￿e$ and c(mIing￿t liabililie5 of the aCqUi￿d bu&ness. Goo(fv4ill is measured at cost less accumulated amcrftsabcffi aThJ Kcumulated impairment kjsses. It is amorti￿￿ orh a straKJht-line basis over its usefijl life. Where a re(iabte estimate of the u5efiJl life of dwill or intangible a*ts Can￿ be m*, the lrfe is we5um8J not to exceed ten years. Amortlsatk)n Anyytisation is (alojlated so as to vfflte off the cost ￿ èn asse¢ be55 its esiimateA regdual value, over useful life rf that asset as fdk)ws: IO% straight line Bay Leisure Limited and its Subsidiaries Charitsble Company Limited by Guarnntee Notes to the Annual Report and Consolidated Flnanclal Ststements Year ended 31 March 2025 If there Is an indication that there ha5 been a swjnfficart charKJe in arThJrtisation rate, ￿￿ful life or idual value of an intsngible asset, the am￿tiSa￿ is reW￿r d W05F*thety to refiect the new Twgible assets Tangible assets are initialty r￿led at ox aThJ subse4uendy stated at tr￿ less any acamulated depreciation and inyirment Icsses. cl￿ CO￿ dir￿ attrbjtsble to makj.ng the asset capable of operating as intsnded. Depreciation Dep￿la￿On is olcukted so as io write off the cftst ty valLtrakn rf an a95eL less its residual value. ¢)vff the usefvl econcrfnK life of that asset as f￿1￿5. Long *asehokl prcwty Motr)r vehides Equip1r￿t 10% - 33% straight line 20% strdight line 10% - 33% strahjht line 1nvestTh￿ts in gjbsidiaries are nwir&l at co& le55 imPaTh￿nt Debtots and credltws recel¥ablelpayable within one year Detrt()rs ¢rnlitixs with no si*d intwest r*e recavaL4e ty payable wilhin year are recorded at trar$act￿l price. Arry b55es impaim*nt a￿ re(ognLsed in ex￿11￿re. Loa￿ and borrowings are initialty reCCgni￿ at the twKe induding trartsaction cosi& impairment. Finance leaw and hire purthase (xmtrn Assets held under finan￿ knes an(J hire purchase c￿tracts are r&c¥Jnised in tr* consolidated ststement of finanaal p)*tK)n as assets arm1 14ibil￿e5 at the kywer of lthe fair value of the assets and the present value of trt minimum kase 15 determined at the In￿ptI(￿ of the kne term. Any initial direct costs of the iease a￿ added to the amount recognw1 as an asset. Lease payments are a￿￿rtio￿￿ btheen the finan￿ charges and reduction of the outstandiry ￿ase liability uslrKJ the effecilve Interest meth(*J. FinarKe dwTges are allocate(I to each pwhxl ￿ as to U￿ a corstsnt rnte of Inter& on the r￿(ni￿j balartt of the Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial Statements Year ended 31 March 2025 Accountlng pollcies (Owt•M￿) . Finavial instruments A finanoal a55et ￿ a firk)rKial lobility is rewi5ed when the entity tecomes è pty to the contraciual provisions of the instrunK￿L Basc finarKlal instnjments are inthlty reCC*Jn￿ed at the anwnt re￿¥Vable tr payaNe inthding any related transactic¥) costs. unth the arraryl￿t Ctmisbtutes a finanong transaction. where bt is rec(gnised at the kyVj￿t vlue of the futhre paymwts discwnted at a rrorknt r* of in*rest for a milar debt instrument Current assets and currert lh7bii￿es are A￿SeQU￿ n￿￿ed at the cash or other Can￿deration ex￿￿￿ to be paid cf recabtd and not discthjnted. Debt instruments are subseqwty meaAJred at anh)rtised cost Any reversab of impaimW ore rwnwl immedwtety. to the eX￿t that the rever5bl does r¥Jt result in a carrying anKsunt of the financial a&set thèt exceets what the canwng amount would have been had the impairm￿t not ￿louS[Y recognL*d. Defined Contributi￿ pl•ns Contributic￿5 to defined Contritr￿ti0n plars are recognised as an eynse in the period in Ihe reLit8J service is provided. Prepaid contribulions are recogn￿1 as an asset to the extert that the prepayment will to a reducbcn in future pa￿ts or a cash refuThJ. wh￿ contrityJtion5 we rNJt exFected to be settjgj wholty within 12 month5 of I￿ end of Ihe repcrtiThJ date in whth the emptyees ￿nthr the related se￿￿. the liatMIty is measured on a di5count8J present Val￿ basis. The unvlnding of the dwyJnt 15 recoJni5ed as an expew in the per*xl in whith (( arises. Limited by guarartee The charital￿e Company is limited by g￿antee. UThJtr aaLtse 3 of tr* Articles of AS￿latiOn, all members uThJertake to contribute to the 0￿rI￿bIe c￿panY an amount as may be requi￿, not exceeding £1, in the event of it being W￿nd up during tr* pw.od of mprnbership and wthin one ye¥ afterwards. unrestrItt￿ Total Funds Unrethtted Totsl Funds Furhts 2025 ds 2024 Health and fithess 4.539,525 4,539.525 Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial statern￿ts Year erKled 31 March 2025 Other trading actlvities I￿￿estr￿￿ Total Funds UnrestTitted Tctsl Funds Fund5 2025 Fund5 2024 V￿dIr0 machine c(Nnmi5S￿n Room hire 17,559 27.743 17,559 27,743 45,302 45.302 l*Ye5trKW Total Funds Unrestricted Totrl Funds Funds 2025 Fund5 2024 Bank internt re￿VaLle 95,280 95.280 174 174 ul￿estr￿1ed Totsl Funds unreStritt￿ Totsl Funds FurK 2025 Jnds 2024 Health and fit Sjpwyt costs 453.971 453.971 3.208.369 624.754 3.833.123 3.208.369 624,754 462,971 462.971 3,833,123 Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial Statements (wnth Year ended 31 March 2025 Expendityre 4)n th•ritable aLtivitie¥ by aLtvity typ• Total funds 2025 Total fund 2024 Heath and fftness 453,971 453.971 9.orJ) 3,267,087 566,036 453,971 9,OCIJ 462,971 3,833,123 Analysis of acliviti¢s undertakth dlrecify 2025 2024 81.215 862,054 364,4S3 113,217 260,257 261,325 52,963 39,698 186,973 Siaff costs Operatiro Rates arKI water ght and ￿at Other establithment costs Ingjran General expw A￿￿rtiSIr￿j Other Offi￿ costs Amortisatw)n of intsngible assets DekxeaatIC￿ of equiptr￿t 183,563 49,905 108,633 3,989 31,118 46,946 350,471 Interest orTr bank loans aNJ wdralts Interest on finan￿ leases aThJ purchase contra(ts U￿￿e5 13,697 87,635 57,310 35,937 261,403 107,126 3.208,369 IrrKoverabk VAT Retention costs 31,803 453,971 Bay Lelsure Limited and its Subsidiaries Charitable Company Limited by Guarartee Notes to the Annual Report and Consolidated Flnandal Statements Year ended 31 March 2025 10. Analysts of ￿Pport a>sts Health filness G￿ernaft￿ T¢>trl 2025 Totsl 2024 Stsff cc6ts Premi Communicatr￿S and Telephone Cprating leases 441,169 13,319 11,911 21,486 22,428 2,278 3,663 17.075 1,756 30.093 20.750 18,138 20,688 Cther offio costs lirecoverable VAT Depreaation Legal arKI profesgrmal fees Audit fees Travel ar￿ subsislen Irterest and similar tharge5 9.fJ)O 9.OCIJ 624.754 IL Net income Net income is slated after d*rgingl(creditirvJ}: 2025 2024 ortisatbjn of intwwJible assets Depreciation of tsngl￿e fixed assets Gain on disposal of tsngible fixed assets Operating lease rents 352,227 42.(KXI 49,905 386,881 IL Auditor< remuneratlon 2025 2024 Fees paYa￿e for the of the annual veport aThJ finar(ial statements 8,7 20,750 Fees payaNe to the tharity's ajdiior arKI its assrxiates fry cts sw¥ices: TaXal￿n ¢th￿l1￿ce services 575 Bay Leisure Limited and its Subsldiarios Charitable Company Lirnited by Guarantee Notes to the Annual Report and Consolldated ￿nancIal Statements . Year ended 31 Marth 2025 The totsl costs aThJ trkn)effits for the rep*MirMJ Fer￿￿ are arhgw as fdlows: 2025 2024 Wages and salaries Jaal seoJrity costs Employer contrritwtions to Pwslon plans 118,238 18.763 46,562 1.093,963 100,640 108,621 183.563 1.303,224 The average ￿ad ctsjnt of eftwlow the ytar was 5 (2024: 60). Tr* average nurthr fUll-￿rne equivalent ern￿oYeeS durirwj ￿ year is anal￿￿ as follows: 2025 2024 No. Managen￿t ministrative CPrational 55 The number of employees wtrK)se r￿ur*rati￿ fty the year fel witt¥n the follyrtiNJ b￿d5, were: 2025 2024 No. £150.0fy) to £150,999 Key Management Perx•nn Key management personnel indude aH perxffts that have arthonty and resporsiblty for pknnir¥J. directing and controlliry the actiwties of the dHrity. The trstal compensation paid to key management personnel for Servi￿ to the d￿rity VA5 £nil {2024: £348.416). No trLth received ary ren￿n￿ation dLrirvJ the yew (2024: £nil). No trustees had travd expenses reimiwrsed during the (2024: £nil). Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial Statements (¢•J￿R￿} Year ended 31 Marth 2025 1% Exlra(•vdinary items Events and transaclkffis falling (￿$de a clkirivs ordIn￿ a(1p￿tieS a￿ by thdr natyre extreme￿ rare and are refer￿ to as extraordinary iteft￿. Extr￿rdinary iten￿ a￿ material evwts ￿ trar6acbons that, fall outslde of the tharitys (*ilinary thifyes. are atrf￿ in ther natLwe. and a￿ not to ￿Ur. 2025 During the year erKfed 31 Marth 2025, the charity remaifvj inactive. hawng compfeted the disp￿1 of its gym assets to JD Sp)rts in prior yEar. The residual transactions and cash flchys in the year prirnarily relatsj to the settjement and reteiO of an*Junts arising fr£￿ ljbat disposal. These items have presented as'extraordiW actMI￿s. 2025 150,168 42,000 24,808 9,824 (427,776) (200.976) Gain from ￿ s* of assets Credrt from eneryy Wovkler ¢Jher miscdlaneous Ir￿ome Redundancy ccfjts 2024 In March 2024, the compary sokl fwr d its to JD Sr*Nts GY￿ Limited. The sale r￿lted in a r£t gain of £676,072, as detsiled below: 2024 Proceeds from ￿ sale of tr& and assets Legal and yofes9.onal f&8 paid "ce fets paid Disp)sal of gwjwill - r￿)0Ve￿ at date of sale Disposal of equipment- NBV removed at date of sak Disposal of leasehokl impYovW￿nts- NBV renwd at date of sale 2.500.000 (85.435} (248} (187.674) (1,119.416) (431.155) 676,072 As part of ￿ sale agreement for the fwr gyms. £I50.0￿j of the proceeds has been retain&J as a cLalms retenb.on and E71)0.0￿ has retained as a b￿k nciice retentN)n in respert of the Cwmbran lease. T￿ anKMJnts are contingent cm certain conditims an(1 will be recognised wh recewed or released based on final sett￿m￿t of oblgaiions. The totsl net gain frL)n the sale is r￿ord￿lJ after dedu(ting t1￿ rthtions. Diso)ntinued operauons. dosure of the Iirth gym The company ceas8J orffikns rf ts last remaining gym in Marth 2024. The assets of gym had been iThpwred to £25.(MX) in ttE finarKaal Statem￿ for the year ended 31 March 2023. TP*se assets were SUbW]L￿￿ sokl in Juty 2024 £65,[￿, g*iwèts'ng a post year end gain £40,orKJ. Tl#s gain will k recc¥n￿l in the financial SlatsM￿ ￿ the year endiro 31 Marth 2025. Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantse . Notes to the Annual Re￿rt and Consolidated Flnanrial Ststements Ca Year ended 31 March 2025 16. Tanglble flxed assets Totsl At l April 2024 DisF4)sèIs At 31 Marth 2025 7C6.521 (7￿,521) 14.858 (14,858) 615,262 1,336,641 (615,262) (1,336,641) Oeprecialion At l April 2024 Disposals 706.521 06,521) 14,858 (14,858) 590.262 1.311.641 (590,262) (1,311,641) At 31 Marth 2025 Carrying amount At 31 MaKh 2025 At 31 March 2024 25,(NJO 25,000 Bay Leisure Limitsd and Its Subsidiari&s Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial Statements (Q%7th￿)-. . .- .. Year ended 31 March 2025 16. Tangible fixed assets Charity vehKle5 Equipment Total At l Aprfl 2024 tlsFo)sals At 31 Marth 2025 706.521 (7t￿.521) 14.858 (14,858) 615,262 1.336.641 1615.262) (1.336,641) vehides Equipment Total At l April 2024 DisF¢)sals 706,521 (706.521) 14.858 (14,858) 590,262 1.311,641 (s￿,262) (1.311.641) At 31 Marth 2025 Carrylng amowtt L&isthokJ Motor vehide5 Equipment Total At 31 March 2025 Motor vehides Equipment Totsl At 31 March 2024 25,(K*) 25,000 Flnance leases and hire purdbase contra Ind￿ed Mthin the carrying Va￿￿ of tsr*Jlb￿ fixed assets are the folkn¥ing wojnts relatirffj to a55ets held under finan￿ lease5 or Fmre purdiase agrwnents: quipment At 31 Ma￿h 2025 At 31 March 2024 959,603 Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and COn￿lIdated Finanual Statements (conth￿) Year ended 31 March 2025 17. Invesirnnts Group The group has no inN*sbwt& Charlty Shares gTOUP U￿rtaknng5 Cc6t and net LKd( value at l Aprli 2024 and 31 Marth 2025 100 Oetails cl the in￿&￿ents in whhth the d*rity an interest 20% CK rn￿ are a5 follow5: SJb5idiary C¢Nyrry Holding % Held &'Mp￿ Leiswe Ltd Ilj) Ctrdinary Él sh) 100 i& Debtors 2025 2024 Trade debtors 9,519 251,705 1.601 450 2,051 261,224 Charity 2025 2024 Trade debtors F*epayrnents and acuLRd I￿orne other debtLY5 9,519 251,705 15,581 276,805 1,601 450 2,051 Bay Leisure Limited and its Subsidiaries Charitsble Company Limited by Guarnntee Notes to the Annual Report and Consolidated Finandal Ststements Year ended 31 March 2025 19. Credltors: Amounts fallin9 due wlthln one year 2025 2024 Trade creditors Accruals aThl (leferred I￿r￿e Kial seajnty aTrJ ots tsxe5 Other ¢yei*"trxs 1,428 51,675 215,839. 35.016 41.201 9,568 301,624 53.103 Charlty 2025 2024 Tr•Je ryeditors Amunts owed to grcNJp uTrJertsknrKJ5 ruals and other credit￿5 ial security aTrJ other tsxes 1,428 363.039 51,676 215,636 242,280 35,016 23,417 516,349 416,143 2025 2024 Bank loans and overdraft5 Obligations under finarte hi￿ wrtha5e cortt￿ts 124,537 95,082 219,619 Charity 2025 2024 Bank loan5 ar¥J overdrafts Obligations under finance leases arnl hi￿ purthase O￿tr￿ts 124,537 95,082 219,619 -31- Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Financial SLiteM￿ts Year ended 31 March 2025 21. Thnance leases and hire purchase (¥ntraLts The total future mr￿m￿M lease pa￿rtnts finan￿ lease5 and hire purchase contratts are as follows". 2025 2024 Not later thèn I Later than l year and not Later than 5 340,899 95.082 435,981 Charity 2025 2024 latsrthan I Later than l year and r•X kter than 5 years 340.899 95,082 435,981 The arrxiunt recognised in inc(me ry exrEThliture as an eXp￿se In relatw to defi￿ conthbutw plans was £46,562 (2024.. £108,621). 23. Anatysls of d￿rItable fvnds UnrestriLtod funds At 31 March 2025 At l Awil 2024 Income Expendthre c￿ra1 fund5 3.350,812 95,280 (663.947) 1782,145 At l 2023 Ir￿£￿￿ E¥pendI￿re 31 Marth 2024 General funds 1.922.862 5.261,on (3.833.123) 3.350,812 -32- Bay Leisure Limited and its Subsidiaries Charitable Company Limlted by Guarantee Notes to the Annual Report and Consolidated Flnanaal Ststemerts Year ended 31 March 2025 Unrestrfcted Total Fynds Funds 2025 Irtarvjible assets Tangible fixed assets cu￿nt assets Credrtors: amounts falling due within one ye Creditors: amounts falling due after n￿re than one 2.835.248 (53.103) 2￿35,248 (53.1031 2.782.145 2,782,145 Unre5trittoJ Totsl Funds FuThJs 2024 lrtangible assets Tangible ftxed assets Current assets Creditors.. amunts falling due within one year Creditors.. arrthjnts frdlling due after rnore than one year 25,000 3,627,436 {301,624) 25.000 3,627,436 (301,624) 3,350,812 3,350,812 The Charity had captsl comrTWtments at 31 Marth 2025 (2024.. £nil). The totsl future mlnimum lease payn*nts under r￿-¢an￿bIme q)wating ￿aSe$ are as fdlows: 2025 2024 Not later than l year Later than l year and nc* kiter than 5 years Later than 5 years 5.519 16,272 5,519 5.519 21,791 -33- Bay Leisure Limited and its Subsidiaries Charitable Company Limited by Guarantee Notes to the Annual Report and Consolidated Finanaal Ststements Year ended 31 ma￿ 2025 Charity 2025 2024 Nc* ltr than l year Later than l year arKI not later than 5 ypars Later Ihan 5 JEars 5,519 16.272 5,519 5,519 21.791 27. contliryert114bllitKs The￿ wue ￿ (C￿tingent liai¥litses at 31 March 2025 {2024: £rMI). Related p•rti mpw Leisure Limited ￿ a lo￿• yJbs*Jkiry of Bay Lersure Limited and as such, the 9T￿$ has tsken advantage of the exemption under FPS 102 from dIsd￿ng transactiC￿$ other wholty owned grojp compani