OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REGISTERED COMPANY NUMBER: 11231381 (England and Wales) REGISTERED CHARITY NUMBER: 1199147

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31st March 2023

for

Herongate Fitness & Wellbeing

Herongate Fitness & Wellbeing

Contents of the Financial Statements for the Year Ended 31st March 2023

Page
Report of the Trustees 1 to 8
Independent Examiner's Report 9 to 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 25
Detailed Statement of Financial Activities 26 to 27

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Charitable objectives

The objectives of the Charity are, for the public benefit:

The Charity provides the local community of Hungerford and the surrounding area with high-quality facilities and services for healthy recreation and leisure-time occupation in the interests of social welfare at an affordable price.

The Charity aims to encourage members of the local community to come together and find common interests, to create a social atmosphere that provides a way to enhance beneficiaries' health and general outlook on life.

The trustees endeavour to use their experience to support and help others in the areas that the Charity covers.

Our aims

The trustees meet regularly to discuss the charitable activities being undertaken and assess whether and to what extent these are furthering the Charity's objects. The trustees work in partnership with the Charity's leadership team to ensure a positive working environment that nurtures ideas and suggestions at all levels.

The trustees set the Charity's strategy and its aims for the forthcoming year on an annual basis, considering how successful the Charity's key activities have been and how the Charity can most effectively further its objectives.

The activities of the Charity are set out in further detail in this Report. The Charity, being only recently registered in May 2022, is making great progress and has developed a good community working relationship. The Charity is working hard to identify and support local people, charities and small businesses that help the community while providing excellent local facilities.

Page 1

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

OBJECTIVES AND ACTIVITIES

Significant activities

The Charity provides the local community of Hungerford and the surrounding area with high-quality facilities and services for healthy recreation and leisure-time occupation in the interests of social welfare at an affordable price.

The Charity provides facilities and services to the public through premises that it leases from Herongate Leisure Limited, under which a peppercorn rent is payable until 1 July 2024.

The Charity provides facilities and services for: swimming, various exercise classes, yoga, pilates, squash, spinning and a fully equipped gymnasium. The gym has state of the art equipment designed for use by persons of all abilities. Functional training areas, free weights, fixed resistance and cardiovascular equipment are all included. There are two spaces for exercise where the Charity offers a variety of fitness classes which are, again, designed to cater for people of all abilities. Classes include high intensity fitness, dance, yoga and spinning.

The Charity also runs specialised classes aimed at particular groups. For example, the Charity runs several "active ageing" classes which include chair mobility, stride, pilates and aqua aerobics. These classes are designed to improve mobility and keep joints and muscles healthy.

The building includes a small sauna, steam room and spa bath. As the Charity has access to these facilities under the lease, it offers its beneficiaries the opportunity to access these facilities at no extra cost. The facilities are limited but can provide health benefits to those using them, particularly after exercise. Health benefits include relaxing muscles, reducing joint pain and aiding recovery. Use of the sauna can also benefit persons with rheumatic diseases.

The Charity also runs a small number of dedicated classes and specialist access periods, including:

The Charity is also looking ahead to developing new relations with community projects within Hungerford in addition to supporting its existing contacts. The trustees note that there are a number of exciting opportunities arising, including supporting a new school for children with unique learning profiles, including Autistic Spectrum Condition and associated communication, language, social, emotional, and mental health needs. The trustees intend to provide access to club facilities to help facilitate their learning and development of social skills and interaction.

New joiners are offered an initial health assessment designed to ensure that they can use the Charity's facilities safely and where qualified staff provide advice on the types of exercise and recreation that may best suit the beneficiary. All members are offered free fitness programmes and program reviews by fully qualified fitness professionals.

Page 2

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

OBJECTIVES AND ACTIVITIES

Outside of the leisure centre itself, the Charity also delivers "in office" fitness classes and training sessions to local businesses which focus on creating healthy work environments and promoting the importance of movement exercise. For example, classes focus on desk based exercises and how to prevent poor posture when working at a desk.

The trustees have had regard to the guidance issued by the Charity Commission on public benefit. All the Charity's activities focus on the promotion of good health and community participation in healthy recreation and leisure-time occupation in the interest of social welfare in furtherance of its charitable objectives.

Pricing Policy

The Charity's various membership/access fees are set out below:

Premier Memberships
Unrestricted access to all club facilities
Single £ 60 per month
Joint £102 per month
Annual £660 per year
Off Peak Memberships
Access 9am - 4pm weekdays and anytime when club is open on weekends
Annual £ 45 per month
Joint £ 76.50 per month
Annual £495 per year
Single Activity Memberships
Unrestricted access to their designated areas
Class only £39 per month
Swim only £39 per month
Rackets £39 per month
Reduced Rates
Requires proof of eligibility for reduced rate
Disability Membership £20 per month
Apprentice or Student Membership £40 per month
Services Membership (military/emergency) £45 per month
Sports Partners Membership £45 per month
Day Passes
Single class pass (Access to one activity/class) £8 per activity/class
Standard day pass (Unrestricted access to the club for one day) £10 per day
Reduced Rate day pass (Unrestricted access to the club for one day) £5 per day

Page 3

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

OBJECTIVES AND ACTIVITIES

Pricing Policy (cont)

Despite steep inflation, the trustees are pleased to note that core membership prices have remained unchanged since 2018 and all memberships have been frozen since 2020.The trustees have considered the financial uncertainties and hardships faced by the community and extended the current price freeze on memberships for an additional year.

Joining fees remain suspended for all memberships, removing financial barriers for those looking to take out a new membership.

Inevitably some members will struggle with membership fees and may have to freeze or cancel memberships. The Charity operates a 30 day notice period on memberships and has given the staff the ability to waive this if someone requests it on grounds of finances. The trustees have also permitted members to take longer freeze periods if required or make payment by other means outside of Direct Debits. All requests are dealt with individually and confidentiality.

Use of our services and facilities

Since its registration in May 2022, the Charity has seen an increase in its membership, and an overall increase in engagement by the community with the facilities and services offered by the Charity.

There are currently 1,105 members across all the different types of membership offered, up from 861 in May 2022. Increased membership has helped to ensure the viability of the Charity, meaning the trustees are able to make longer-term plans to sustain the Charity's future.

The variety of exercise classes and facilities have had a beneficial impact on the local community, and the Charity has a welcoming culture, emphasising that physical activity is for persons of all ages and abilities.

In particular, the specialised classes aimed at specific groups in need have been very successful, especially the elderly local community who benefit not only from the physical exercise but also draw significant benefits from the social aspect of group classes and engagement with the community. To supplement these specialist classes, the Charity is working closely with the Terrace View Cafe to offer social activities to those attending the classes as well as those who want to simply come and chat. A discount is offered to all members and to those accompanying members on these classes.

Further, swimming sessions that are ring fenced for disabled beneficiaries and residents and carers of West Berkshire Mencap's Newbury Centre every week has meant that people who might not ordinarily be able to or wish to use the facilities during other times are able to benefit too. Mencap regularly brings up to 15 members to use the pool along with their carers, and have been offered additional sessions when needed. New groups including residential supported living for those with learning disabilities are also taking advantage of dedicated pool sessions. The Charity supports upwards of 30 people a week within dedicated sessions.

The Charity has also delivered ten "in office" fitness classes and training sessions to local businesses, which has the effect of creating healthy work environments and promoting the importance of movement exercise beyond visiting the leisure centre itself. These businesses do not have to be corporate members of the gym in order to benefit from the scheme.

Page 4

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

OBJECTIVES AND ACTIVITIES

Despite steep inflation, the trustees are pleased to note that core membership prices have remained unchanged since 2018 and all memberships have been frozen since 2020.The trustees have considered the financial uncertainties and hardships faced by the community and extended the current price freeze on memberships for an additional year.

Joining fees remain suspended for all memberships, removing financial barriers for those looking to take out a new membership.

Inevitably some members will struggle with membership fees and may have to freeze or cancel memberships. The Charity operates a 30 day notice period n memberships and has given the staff the ability to waive this if someone requests it on grounds of finances. The trustees have also permitted members to take longer freeze periods if required or make payment by other means outside of Direct Debits. All requests are dealt with individually and confidentiality.

FINANCIAL REVIEW

Financial review

Overall, the Charity’s financial position has improved during this year and compared to previous years as it continues to mitigate the long-standing effects of the Covid-19 pandemic. The trustees are pleased to note that many of these constraints have been overcome.

During the pandemic, the Charity took advantage of the period of lower footfall to invest in updating its premises and leisure equipment. The Charity has since marketed this opportunity effectively which has meant that surrounding communities have been able to take advantage of the improved facilities. As a result, memberships and income has increased during this financial year.

The Charity does not currently have any fund or subsidiary undertaking that is materially in deficit.

The Charity does not currently have any uncertainty about the Charity’s ability to continue as a going concern.

Principal funding sources

The Charity reports a significant increase in income as a result of new memberships, from £319,652 in the year ending 2022 to £431,212 in the year ending 2023. Activity fees have also increased healthily, from £32,004 to £50,322 within the same timeframe.

Income

The Charity has an income target this financial year of £50,000 per month, comprising approximately £42,000 of membership fees, and £8,000 split between other sources of income including one-off activity fees and income from the trading subsidiary.

Approximately £37,448 was spent on raising funds. This sum went towards advertising and marketing in Hungerford and the local business parks. The trustees understand this expenditure to have had a productive effect, with an increase in membership numbers and associated income resulting in part because of these initiatives

Page 5

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

FINANCIAL REVIEW

Reserves policy

The Charity does not currently hold any reserves.

The trustees feel that holding reserves is a necessary step for the Charity to make as a means of improving the Charity's long-term financial security. The trustees have therefore set 'achieving a general reserve' as an objective. The trustees wish to build up and maintain a reserve valued at three months' operational costs, being approximately £135,000.

Grants

The Charity has not received any money from the Local council this financial year, or from room hire. The Furlough Scheme has also come to an end. However, the shortfall in these income streams is made up for by the increased membership as described above.

Staff costs

Staff levels have remained mostly static while costs are only slightly up from last year, as the Charity continues to support the Real Living Wage.

REGULAR FINANCIAL REVIEWS

The Trustees are very aware of the inflationary pressures that are in place at present. They make a point of completing regular monthly accounting checks to ensure that any significant changes in income or expenditure levels are picked up without delay and take appropriate action to keep overall control.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 1 March 2018 and registered as a charity on 22 May 2022. The Charity is governed by a set of Articles of Association adopted on 1 December 2021, which outlines the objects and powers of the charitable company. In the event of the Charity being wound up members are required to contribute an amount not exceeding £1.

Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the Charity’s Articles of Association are known as the Board of Trustees. Under the requirements of the Articles of Association the trustees are elected to serve for a period of three years after which they must be re-elected at the next Board Appointment Meeting if they are going to continue to serve.

All trustees give their time voluntarily and receive no benefits from the Charity. Any expenses reclaimed from the Charity are set out in note 7 to the accounts (there were none this financial year).

The Charity must have between 3 and 12 trustees, who must all be aged 16 or above. The Charity currently has five trustees. New trustees are appointed by a resolution of the Board.

Page 6

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The trustees of the Charity are also its members. The trustees are responsible for the strategic direction of the Charity.

The trustees delegate day-to-day management of the Charity to its Leadership Team comprised of four dedicated employees taking up the following roles: Member Experience Manager, Operations Manager, Fitness Manager, and Duty Manager.

Induction and training of new trustees

As the Charity is only recently registered and the trustees are appointed to serve at least one term of three years, the trustees have not yet had any need to consider the recruitment and appointment of new charity trustees. However, the trustees understand that they must have regard to the Charity Commission guidance on this topic, and that they should recruit trustees who have the requisite skills, experience, and interest needed to help administer the Charity.

All new trustees are given a copy of the Charity’s constitution, its latest management accounts, and key policies.

The Charity will arrange for trustee training through reputable providers or its legal advisors as the trustees determine it is needed.

Related parties

The Charity leases the building from Herongate Leisure Limited, which is owned by Kerridge Properties Ltd. None of the trustees of the Charity are directors or shareholders of (or are related to directors or shareholders of) Herongate Leisure Limited, Kerridge Properties Limited or KPL Holdings Limited.

The Charity has a wholly-owned subsidiary, Herongate Enterprises Limited, registered with Companies House number 11811363. Two of the Charity’s trustees, Jonathan Taylor and Angela Ford, are also directors of the trading subsidiary.

The Charity is not part of any other wider network of bodies or umbrella groups.

The Charity also works with a number of other external organisations in delivering their charitable activities. For example, the Charity works with Parkinson’s UK Newbury & District Branch to deliver a monthly Parkinson’s Disease therapy class to assist persons with Parkinson’s Disease. The Charity also gives dedicated pool access to residents and carers of West Berkshire Mencap’s Newbury Centre every week.

The Charity also offers Sports Partners membership, with preferential rates, to persons who are members of local sports clubs, where those sports clubs are also charities or CASCs. Participating sports clubs currently include Hungerford Town FC, Kintbury FC, Hungerford Town Rugby Club, East Woodhay Cricket Club and Hungerford darts league.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

11231381 (England and Wales)

Registered Charity number

1199147

Page 7

Herongate Fitness & Wellbeing

Report of the Trustees for the Year Ended 31st March 2023

Registered office 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Principal address Herongate Leisure Herongate Hungerford Berkshire RG17 0YU Trustees J Taylor Chair J S Birkett Trustee J D Murtagh Trustee M A Westbrook Trustee Mrs A J Ford Trustee Independent Examiner Paula Joyce FCCA CTA Association of Chartered Certified Accountants Sheen Stickland Chartered Accountants 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. J Taylor - Trustee

Page 8

Independent Examiner's Report to the Trustees of Herongate Fitness & Wellbeing

Independent examiner's report to the trustees of Herongate Fitness & Wellbeing ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Page 9

Independent Examiner's Report to the Trustees of Herongate Fitness & Wellbeing

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Association of Chartered Certified Accountants which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Paula Joyce FCCA CTA Association of Chartered Certified Accountants Sheen Stickland Chartered Accountants 2 Oriel Court Omega Park Alton Hampshire GU34 2YT

Date: .............................................

Page 10

Herongate Fitness & Wellbeing

Statement of Financial Activities for the Year Ended 31st March 2023

----- Start of picture text -----
2023 2022
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 505,732 487,185
Other income - 1,260
Total 505,732 488,445
EXPENDITURE ON
Raising funds 3 37,548 30,466
Charitable activities 4
Leisure centre 482,806 465,212
Total 520,354 495,678
NET INCOME/(EXPENDITURE) (14,622) (7,233)
RECONCILIATION OF FUNDS
Total funds brought forward (64,792) (57,559)
TOTAL FUNDS CARRIED FORWARD (79,414) (64,792)
----- End of picture text -----

The notes form part of these financial statements

Page 11

Herongate Fitness & Wellbeing

Balance Sheet 31st March 2023

----- Start of picture text -----
2023 2022
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Tangible assets 10 29,308 57,004
Investments 11 100 100
29,408 57,104
CURRENT ASSETS
Stocks 12 654 552
Debtors 13 21,743 14,307
Cash at bank and in hand 21,488 3,051
43,885 17,910
CREDITORS
Amounts falling due within one year 14 (88,957) (122,319)
NET CURRENT
ASSETS/(LIABILITIES) (45,072) (104,409)
TOTAL ASSETS LESS CURRENT
LIABILITIES (15,664) (47,305)
CREDITORS
Amounts falling due after more than one
year 15 (63,750) (17,487)
NET ASSETS/(LIABILITIES) (79,414) (64,792)
FUNDS 18
Unrestricted funds (79,414) (64,792)
TOTAL FUNDS (79,414) (64,792)
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 12

Herongate Fitness & Wellbeing

Balance Sheet - continued 31st March 2023

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

J Taylor - Trustee

The notes form part of these financial statements

Page 13

Herongate Fitness & Wellbeing

Cash Flow Statement for the Year Ended 31st March 2023

----- Start of picture text -----
2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 102,254 65,543
Interest paid (763) (944)
Interest element of finance lease
payments paid (11,129) (7,045)
Net cash provided by operating activities 90,362 57,554
Cash flows from investing activities
Purchase of tangible fixed assets (14,162) (1,061)
-
Sale of tangible fixed assets 1,260
Net cash (used in)/provided by investing activities (14,162) 199
Cash flows from financing activities
Loan repayments in year (11,667) (38,333)
Capital repayments in year (46,096) (30,275)
Net cash used in financing activities (57,763) (68,608)
Change in cash and cash equivalents
in the reporting period 18,437 (10,855)
Cash and cash equivalents at the
beginning of the reporting period 3,051 13,906
Cash and cash equivalents at the end
of the reporting period 21,488 3,051
----- End of picture text -----

The notes form part of these financial statements

Page 14

Herongate Fitness & Wellbeing

Notes to the Cash Flow Statement for the Year Ended 31st March 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES ACTIVITIES
Net expenditure for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest paid
Interest element of hire purchase and finance lease rental payments
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase in creditors		 2023
£
(14,622)
41,858
-
763
11,129
(102)
(7,436)
70,664		 2022
£
(7,233)
40,812
(1,260)
944
7,045
1,641
3,891
19,703
Net cash provided by operations 102,254 65,543
ANALYSIS OF CHANGES IN NET DEBT
Net cash
Cash at bank and in hand		 At 1.4.22
£
3,051		 Cash flow
£
18,437		 At 31.3.23
£
21,488
3,051 18,437 21,488
Debt
Finance leases
Debts falling due within 1 year
Debts falling due after 1 year		 (46,096)
(10,000)
(1,667)		 46,096
10,000
(62,083)		 -
-
(63,750)
(57,763) (5,987) (63,750)
Total (54,712) 12,450 (42,262)

2. ANALYSIS OF CHANGES IN NET DEBT

The notes form part of these financial statements

Page 15

Herongate Fitness & Wellbeing

Notes to the Financial Statements for the Year Ended 31st March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc - 25% on cost and 20% on cost

Related party exemption

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

continued...

Page 16

Herongate Fitness & Wellbeing Notes to the Financial Statements - continued for the Year Ended 31st March 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Memberships
Activity fees
Sunbeds
Grants
Room hire
Sundry receipts
Retail
Loans forgiven		 2023
£
431,212
50,322
3,490
-
-
15,500
5,208
-
505,732		 2022
£
319,652
32,004
3,707
21,956
9,821
12,000
16,297
71,748
487,185

Grants received, included in the above, are as follows:

Local council
Furlough income		 2023
£
-
-
-		 2022
£
18,000
3,956
21,956

continued...

Page 17

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

3. RAISING FUNDS

Other trading activities

----- Start of picture text -----
|||||| |---|---|---|---|---| |2023|2022| |£|£| |Purchases|37,548|30,466| |4.|CHARITABLE ACTIVITIES COSTS| |Support| |Direct|costs (see| |Costs|note 5)|Totals| |£|£|£| |Leisure centre|435,195|47,611|482,806| |5.|SUPPORT COSTS| |Governance| |Management|Finance|costs|Totals| |£|£|£|£| |Leisure centre|5,734|21,128|20,749|47,611|

----- End of picture text -----

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Depreciation - owned assets|11,583|10,537| |Depreciation - assets on hire purchase contracts and finance leases|30,275|30,275| |-| |Surplus on disposal of fixed assets|(1,260)|

----- End of picture text -----

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

continued...

Page 18

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

----- Start of picture text -----
8. STAFF COSTS
2023 2022
£ £
Wages and salaries 180,504 171,468
Social security costs 8,569 9,098
Other pension costs 4,898 4,796
193,971 185,362
The average monthly number of employees during the year was as follows:
2023 2022
Staff 9 8
No employees received emoluments in excess of £60,000.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 487,185
Other income 1,260
Total 488,445
EXPENDITURE ON
Raising funds 30,466
Charitable activities
Leisure centre 465,212
Total 495,678
NET INCOME/(EXPENDITURE) (7,233)
RECONCILIATION OF FUNDS
Total funds brought forward (57,559)
TOTAL FUNDS CARRIED
FORWARD (64,792)
----- End of picture text -----

continued...

Page 19

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

10. TANGIBLE FIXED ASSETS

COST
At 1st April 2022
Additions
At 31st March 2023
DEPRECIATION
At 1st April 2022
Charge for year
At 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022		 Leisure
equipment
£
178,002
14,162
192,164
125,378
38,424
163,802
28,362
52,624		 Office
equipment
£
15,837
-
15,837
11,457
3,434
14,891
946
4,380		 Totals
£
193,839
14,162
208,001
136,835
41,858
178,693
29,308
57,004

Fixed assets, included in the above, which are held under finance leases are as follows:

COST
At 1st April 2022
Reclassification
At 31st March 2023
DEPRECIATION
At 1st April 2022
Charge for year
Reclassification/transfer
At 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022		 Leisure
equipment
£
151,376
(151,376)
-
108,229
30,275
(138,504)
-
-
43,147

continued...

Page 20

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

11. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1st April 2022 and 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022
There were no investment assets outside the UK.
12.
STOCKS
Stocks
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 Shares in
group
undertakings
£
100
100
100
2023
2022
£
£
654
552
2023
2022
£
£
825
1,739
20,918
12,568
21,743
14,307

continued...

Page 21

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Bank loans and overdrafts (see note 16)
-
Finance leases (see note 17)
-
Trade creditors
33,564
Amounts owed to group undertakings
30,157
Social security and other taxes
3,907
Other creditors
9,100
Pension cost payable
440
Accruals and deferred income
11,789
88,957
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
£
Bank loans (see note 16)
-
Other loans (see note 16)
63,750
Finance leases (see note 17)
-
63,750
16.
LOANS
An analysis of the maturity of loans is given below:
2023
£
Amounts falling due within one year on demand:
Bank loans
-
Amounts falling between one and two years:
Bank loans - 1-2 years
-
Other loans - 1-2 years
15,000
15,000
Amounts falling due between two and five years:
Other loans - 2-5 years
45,000
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal
3,750		 2022
£
10,000
30,276
11,330
22,237
3,323
28,250
566
16,337
122,319
2022
£
1,667
-
15,820
17,487
2022
£
10,000
1,667
-
1,667
-
-

continued...

Page 22

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

17. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Net obligations repayable:
Within one year
Between one and five years
MOVEMENT IN FUNDS
At 1.4.22
£
Unrestricted funds
General fund
(64,792)
TOTAL FUNDS
(64,792)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
505,732
TOTAL FUNDS
505,732		 Finance leases
2023
2022
£
£
-
30,276
-
15,820
-
46,096
Net
movement
At
in funds
31.3.23
£
£
(14,622)
(79,414)
(14,622)
(79,414)
Resources
Movement
expended
in funds
£
£
(520,354)
(14,622)
(520,354)
(14,622)

18. MOVEMENT IN FUNDS

continued...

Page 23

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.21
£
Unrestricted funds
General fund
(57,559)		 Net
movement
in funds
£
(7,233)		 At
31.3.22
£
(64,792)
TOTAL FUNDS
(57,559)		 (7,233) (64,792)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
488,445
Resources
expended
£
(495,678)		 Movement
in funds
£
(7,233)
TOTAL FUNDS
488,445		 (495,678) (7,233)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
(57,559)
(21,855)		 At
31.3.23
£
(79,414)
TOTAL FUNDS
(57,559)		 (21,855) (79,414)

continued...

Page 24

Herongate Fitness & Wellbeing

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
994,177
(1,016,032)
(21,855)
994,177
(1,016,032)
(21,855)

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2023.

Page 25

Herongate Fitness & Wellbeing

Detailed Statement of Financial Activities for the Year Ended 31st March 2023

INCOME AND ENDOWMENTS
Donations and legacies
Memberships
Activity fees
Sunbeds
Grants
Room hire
Sundry receipts
Retail
Loans forgiven
Other income
Gain on sale of tangible fixed assets
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Advertising
Cleaning
Staff welfare
Subscriptions
Travelling
Staff training
Medical insurance
Carried forward		 2023
£
431,212
50,322
3,490
-
-
15,500
5,208
-
505,732
-
505,732
37,548
180,504
8,569
4,898
18,745
6,781
86,085
1,322
2,401
11,437
34
998
827
2,799
35
325,435		 2022
£
319,652
32,004
3,707
21,956
9,821
12,000
16,297
71,748
487,185
1,260
488,445
30,466
171,468
9,098
4,796
15,544
20,713
100,174
1,687
2,130
11,182
301
255
36
1,044
1,817
340,245

This page does not form part of the statutory financial statements

Page 26

Herongate Fitness & Wellbeing

Detailed Statement of Financial Activities for the Year Ended 31st March 2023

----- Start of picture text -----
2023 2022
£ £
Charitable activities
Brought forward 325,435 340,245
Uniforms 487 501
Computer costs 6,139 382
Health and safety 1,048 5,707
Waste 1,410 1,272
Licences 3,597 5,570
Regular hire charge 449 839
Repairs and renewals 54,772 32,811
Depreciation of leisure equipm ent 38,425 36,859
Depreciation of office equipme nt 3,433 3,953
435,195 428,139
Support costs
Management
Postage and stationery 4,849 6,301
Sundries 885 384
5,734 6,685
Finance
Direct debit services - 158
Bank charges 413 403
Credit card 8,823 6,980
Loan 763 944
Hire purchase 11,129 7,045
21,128 15,530
Governance costs
Accountancy fees 9,168 10,191
Legal fees 11,581 4,667
20,749 14,858
Total resources expended 520,354 495,678
Net expenditure (14,622) (7,233)
----- End of picture text -----

This page does not form part of the statutory financial statements

Page 27