REGISTERED COMPANY NUMBER: 11231381 {England and Wales) REGISTERED CHARifi NUMBER: 1199147 Report of the Trustees and Unaudited Financial Statements lor the Year Ended 31st March 2024 Herongate Fitness & Wellbein
Herongate Fitness & Wellbeing Contents of the Financial Statements for the Year Ended 31st March 2024 Page Report of the Trustees Independent Examiner's Report 9 to 10 Statement of Financial Artivitie5 li Balan Sheet 12 to 13 Cash Flow Statement 14 Notes to thè Cash Flow StatÈment 15 Notes to the Financial Ststements 16 to 25 Detailed Statement ol Financial Artivilies 26 to 27
Herongate Fitness & Wellbeing Report of the Trustees for the Year Ended 31st March 2024 The trustees who are also directors of the charity for the purposes ol the Companies Att 2006, present their report wilh the financial statements of the charity for the year ellded 31st March 2024. 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 ReportinB Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191. OBJECTIVES AND ACTIVITIES Charitable objettives The objectives of ihe Charity are, for the public benefit.. to provide or assist in the provision of facilities and seThices for recreation or other leisure-time occupation in the interests of social welFare, such facilities and services being provided to the public at large or to persons who have need of the facilities because of their youth, age, infirmity or disability, poverty or social or economic circumstances. and the promotion and protection of good health including through community participation in healthy recreation. The Charity provides the local community of Hungerford and the surrounding area with high-quality facilities and services for healthy recreation and leisvre-time occupatH)n in the interests of social welfare 3t an affordable price. The Charity aims to encourage members of the local cofnmuntty to come together and find common interests, to create a social aimosphere that provides 3 way to enhance beneficiarie5' health and general outlook on life. The trustees endeavour to use their experience to support and help thhers in thè areas that the Charlty covers. Our aims The trustees meet regularly to discuss the charitable activtties being undertaken and assess whether and to what extent these are furthering the Charitws object5. The trustees work in partnership with the Charity's leadership team to ensure a positNe working environment ihat nurlures ideas and suggestions at all levels. The trustees set the Charity's strategy an(1 its aims for the forthcoming year on an annual basis. considering how successful the Charity's key artivities have been and how the Charity can most effectively further its objertives. The attivitbes of the Charity are set out irh further deiail in this Repon. The Charity. being only recentlv 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 I
Herongate Fitness & Wellbelng Report of the Trustees for the Year Ended 31st March 2024 OWECTIVES AND ACTIVITIES Significant activities The Charity provides the local community of Hungerford and the stjrrounding area with high-quality facilities and seNices for healthy recreation and leisure-time occvpaiion in the interests of social welfare at an affordable prite. The Charity provides facilities and serwces to the public through premises that r( leases from Herongate Leisure Limited, under which a peppercorn rent is payable until l July 2029. The Charity provides facilities and services for.. swimmin& various exercise classes. yOEa. pilates. Squash. spinning and a fulty equipped gymnasium. The gym has state of the art equipment designed for use by persons of all abilities. Functional training area5, free weighis, 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 fitne5S, dance. yoga and spinning. The Charity also wns specialised Classes aimed at particular groups. For example. the Charity njns 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 heamhy. The building includes è small sauna, steam room and spa bath. As the Charity has access to these facilrties Under the lease, it offers its beneficiaries the opportunity to access these faciif(ies at no extra cost. The facilities are limited but can provide heatth benefrts to those usirhg them, particularly after exercise. Health benefits include relaxing muscle5, reducing joint pain and aldine recovery. Use of the sauna can also benefit persons with rheumatic diseases. The Charity also runs a small number of dedicated classes and specialist acce55 period5, including.. - A quiet gym space for members who struEgle with spatial awarene55 and other'noi5e' i5sue5. Dedicated pool access is provided to tesKlent5 and caiers of West Berkshire Mencap's Newbury Centre every week. Dedicated swimming sessions are provided foi beneficiaries with disabilities every Monday afternoon. Beyond providing acte5S to the Charity's sporting facilities. it also holds a dedicated Ukraine support group which offers weekly drowin sessions to provide support, advice and social interaction for the newest community members. The Charity Is also looking ahead to developing new relations with community projects within Hungerford in addition lo supporting its existing conlacts. The tnjstees note that there are a number of exciting opportunities arising. We are supporting a new school for children with unique learning profiles. including Autistic Spectrum Condition and associated communicatÈon. language, social, emotional, and mental health needs. The trustees intend to provide atce55 to club facilities to help facilitate their learning and development of social skills and interaction. New joirher5 are offered an initial health assessment designed to ensure that they can use the Charity's facilities safely and where qualified staff provide advite on the types of exercise and recreation ihat may best suit the beneficiary. All members are offered free fitness proBrammes and program ieviews by fully qualified fitness professionals. Page 2
Herongate Fitnes5 & Wellbeing Report of the Trustees for the Year Ended 31st March 2024 OBJECTIVES ANO ACTivmES Outside of the leisure centre itself, the Ch3rtty also delivers 'in office" fitness classes and training sessions to IcKal businesses which focus on creating healthy work environment5 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 tnjstees have had regard to the guidance issued by the Charity Commis5iOT) on public benefit. All the Charity's actiwties focus on the promotion of good health and tommunily participation in healthy recreation and leisure-time occupation in the interest of social welfare in furtherance of its charitable objectives. Priclng Policy The Charity's various membership/3ccess fees are set out below-. Premier Memberships Unrestricted access to all club facilities £ 62 per month £104 per month £665 per year SinBle Joint Annual Olf Peak Memberships Access 9am- 4pm weektlays and anytime when club is operh on weekends £ 47 per month £ 78 per month £5) per year Annual Joint Annual Single Activity Memberships Unre5triited access to their designated areas £41 per month £41 per month £41 per rnonlh Class on Swirn only Rackets Reduced Rales Requires pr¢)of of eligibility for reduced rate £22 per month £42 per month £47 per month £47 per month Disability Membership Apprentice or Student Membership Services Membership Imilitarylemergencyl Sports Partners Membership Oay Passes Single class pass (Access to one activitylclassl Standard day pass IUnre5trirted access to the club for orhe dayl Reduced Rate day pass Iunrestricted access to the club for one dayl £8 per activitylclass £10 per dav £6 per dav Page 3
Herongale Fitness & Wellbeing Report of the Trustees for the Year Ended 31st March 2024 OBJEcfivES AND ACTIVITIES PricinE Policy Icontl Desplte steep inflation, the trnstees are pleased to note that small increase in fees was made in May 2024 which was accepted by all members. 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 ha5 given the staff ihe ability to waive this rf someone requests it on grounds of finances. The tntstees have also permitted member5 to take longer freeze periods if required or make payment by other means oUtse of Direct Debits. All requests are dealt with individually and confidentialty. Use of our services and facilities Since its registration in May 2022, Ihe Charily has seen an increase in Tts membership, and an overall Intrease in engagement by the community with the facilities and service5 offered by the Charity. There are turrently 1.201 members across all the different types of membership offered, up from 1105 in May 2023. Increased membership ha5 helped io ensure the viability ol the Charity, meaning the trustees are able to make longer-term plans to sustain the Charity's futu. 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 penons of all ages and abilities. In particular. the specialised classes aimed at specific groups in need have been very successfijl, especially the elderly local community who benefit not only from ihe physical exercise but a150 draw significant benefrts from the social aspect of group classes and engagement Wtth the communrty. To supplement these specialist classes. the Charity is working closely wilh 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 offed to all members and to those accompanying members on these classes. Further. swimming sessions thal are ring fenced for disabled beneficiaries and residents and CaTeTS 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 iheir carers. 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 Chartty supports upwards of 30 people a week wtthin dedicated se55ion5. The Charity has a150 delivered ten 'in office" fitness classes and trainin8 sessions to local businesses. which has the effect of creating healthy work environments and proffloting the importance of movement exercise beyond visiling the leisure centre itself. These businesses do not have to be corporate members of the gym in order to benefit from the scheme. The Charity are also keen to promote Health and Wellbeing. We will do this by holding free (Irop in professionally run sessions to help members and 'walk ins" to better manage their health and financial challenges. Page 4
Herongate Fltness & Wellbeing Report of the Trustees for the Year Ended 31st March 2024 FINANCIAL REVIEW Financial review Overall. the Charitvs financial position has improved during this year and compared to previous years as it continues to mitlEate the long-standing effecls of the Covid-19 pandemic. The trustees are pleased to note that many of these constraints have been overcome. During the pandefflic, 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 thal surrounding communities have been able to take èdvantage 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 Charitrfs ability to continue a5 a going concern. Principal funding sowces The Charity reports èn increase in income as a result of new memberships. from £431,212 in the year ending 2023 to £533.275 in the year ending 2024. Our membership fee increase in May 2024 will account for some of ihis increase. Activity fee5 have increased from £50.322- £72,161 within the same timeframe. Inc¢me The Charity has an income target this finantial year of £55.[)0 per month. comprising of £48,OCKI of membership fees, and £7,(KKJ split between other Sources of income including one off activity fees and income from the trading subsidiary. Approximately £45,(X)O was spent on Tai5ing funds. This was local marketing in and around the Hungerford area. The trustees understand this expenditure has had a posltive effect on our increased membershlp numbers arhd associated income. Reserves policy The Charity does not currently hold any reserves. The trustees feel ih3t holding reseNes is a necessary step for the Charity to make as a means of improvirhg the Charity's lonE-term financial security. The trustees have therefore set'achieving a general reserve. as 3n objective. The trustees wish to build up and maintain a reserve valued at three month5, oper3tion31 costs. bein8 approximately £135.OLK). Grants The Charity ha5 not received any money from the Lotal council this financial year. or from room hire. The Furlough Scheme has also come to an end. However. the shortfall ITr these income streams is made up for by the increased membership as described above. Page 5
Herongate Fitness & Wellbeing Report of the Trustees for the Year Ended 31st March 2024 FINANCIAL REVIEW Staff costs Staff levels have remained mostty statrc while costs are only slightly up from last year. as the Charity continue5 to support the Real Living Wage_ REGULAR FINANaAL REVIEWS The Trustees are very aware of the inflationary pressures thai are in place at pSent. They make a point of completing regular rnonthly accounting checks lo ensure that any significant changes in income or expenditure levels are picked up without delay and take appropriate artion to keep overall control. STRUCTURE. GOVERNANCE AND MANAGEMEKr Governing document The organisation is a charitable company limited by guarantee. incorporated on l March 2018 and registered as a charrty on 22 May 2022. The Charity is governed by a set of Articles of Association adopted on l December 2021. which outlines ihe objects and powers of the charitable compathv. In the event of ihe Charity being wound up Members are required to contribute an amount not exceeding £1. Trustees The directors of the company are also charily trustees for the purposes of Charity law and under the Charity's Articles of Associaiion are known as the 8oard of Trustees. Under the requirements of the Articles of A$50cialion 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 rfthey are going to continue to Serve. All trustees give their time voluntarity and receive no benefits from the Charity. Any expense5 reclaimed from the Charity are set out in note 7 to the accounls (there were none this financial year). The Charity must have between 3 and 12 tnjstees, who must all be aged 16 or above. The Charity currently has five trustees. New tnjstees are appointed by 3 resolution of the Board. Organisational structure The trustees of the Charity are also rts members. The trustees are responsible for the strategic direction of the Charity. The trustee5 delegate day-to-day management of the Charity to its Leadership Team comprised of three dedicated employees taking up the following roles.. General Manager. OperatK)ns Manager. and Dutv Manager. Page 6
Herongate Fltness & Wellbeing Report of the Trustees lor the Year Ended 31st March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT 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 yel had any need to consider the recruttment and appointment of new chhrity trustees. However. the trustees understand that they must have regard to the Charity Commission gLJidance on this topic, and that they should recrutt trustees who have the requisrte skills. experience, and interest needed to help administer the Charity. All new trustees are given a copy of the Charity's constitutron, its latest management accounts, and key policies. The Charity will arrange for trustee training through reputable provider5 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 lor are related to directors or Shareholders of) Herongate Leisure Limired, Kerridge Properties Limited or KPL Holdings Limited. The Charity has a wholly-owned subsidiary, Herongate Enterprises Limited. registered with Companies House number 11811363. One of the Charitws trustees. Angela Ford, is also a dirertor 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. Ihe Charity works wrth 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 Mentap's Newbury Centre every week. The Charity also offers Sports PartneT5 membership, wrth pretentIal rates, to persons who are members of lotal 5POrts clubs, where those sports clubs are also charities or CASCS. Participating sport5 club5 currently include Hungerford Town FC, Kintbury FC, Hungerford Town Rugby Club, East Woodhay Cricket Club and Hun8erford darts league. REFERENCE AND ADMINisfRATIVE DAlL5 Registered Company number 11231381 IEngland and Wales) Registered Charity number 1199147 Registered office 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Page 7
Herongate Fitness & Wellbeing Report of the Trustees for the Year Ended 31st March 2024 Trustees J Taylor Trustee J S Birkett Trustee J D Murtagh Trustee M A Wesibrook Trustee Mrs A J Ford Chair S Woods (appointed 1.3.241 Independent Examiner Paula Joyce FCCA CtA Association of Chartered Certrfied Accountants Sheen Stickland Chartered Accountants 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Approved by order of the board of trustees on . 21:...:102..LF......... and signed on its behalf by- MrsAJFor ruslee Page 8
Independent Examiner's Report to the Trustees of Herongate Filness & Wellbeing Independent examiner's report to the trustees of Heron8*e Fitness & Wellbeing I'thÈ Company'l I report to the charity trustees on my examination of the accounts ol the Company for ihe year ended 31si March 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors fof the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 2(NJ61'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not requi to audited under Part 16 of the 2(X)6 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under Seclion 145 of the Ch3rrties Ad 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Comrni55N)n under Section 145151 Ibl of the 2011 Act. Page 9
Independent Examiner's Report to the Trustees of Herongate Fitness & Wellbeing Independent examiner's statement Since yovr charity's gr055 income exceeded £250,1XM) your examiner must be a mernber of a listed body. I can confirm that l am qualified to undertake the examination because l am a registered member of Association of Chartered Certified Accountants which is one of the listed bodies. I have compleled my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respert of the Company as required by Section 386 of the 2006 Act,- or the accounts do not accord with those records.. or the accounts do not comply with the accounting requirements of Sertion 396 of the 2006 Act other than any requirement that the accounts give a twe and fair view which 15 not a matter considered as part of an independent examination- or the accounts have not been prepared in actordance wtih the rnethods and principle5 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 IFRS 10211. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper UndetandIng of the accounts to be reached. Paula joyce FCCA CTA Association of Chartered Certified Accountants Sheen 5tickland Chartered Accountants 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Dale.. IS Ottobof QOL4 Page 10
Herongate Fitness & Wellbeing Statement of Flnancial Activities for the Year Ended 31st March 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legacies 642.982 505.732 EXPENDITURE ON Raising funds 46,418 37,548 Charitable activities Leisure tentre 566,826 482,806 Total 613,244 520,354 NET INCOMEIIEXPENDITUREI 29.738 114,6221 RECONCILIATION OF FUNDS Total funds brought fOnard 179,4141 164.7921 TOTAL FUNDS CARRIED FORWARD 149.6761 179,4141 The notes form part of these financial 5tatementS Page 11
Herongate Fitness & Wellbeing Balance Sheet 31st March 2024 2024 Unrestricted fund 2023 Total funds Notes FIXEO ASSErs Tangible assets Investments io li 11,340 100 29,308 loo 11.440 29,408 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 1.060 28,308 17,187 654 21,743 21,488 46.555 43.885 CREDITORS Amounts falling due within one year 14 188,9571 NET CURRENT ASSs11L1ABllIT1ES) 143,6161 145,0721 TOTAL ASSETS iESS CURRENT UABILMES 132.1761 15.6641 CREDITORS Amounts falling due after more than one year 15 117.5001 163.7501 NET AssrfsiiLIABILITIESI 149,6761 179,414 FUNDS Unrestricted funds 17 149,6761 179.4141 TOTAL FUNDS 149,6761 179,4141 The charitable company is entitled to exemption from audit under Seclion 477 of the Companies Act 2006 for the year ended 31st March 2024. The member5 have not required the company to obtain an audit of its financial 5t3ternents for the year ended 31st March 2024 in accordance with Section 476 of the Companies Art 26. The notes form part of these financial statements Page 12 tonlinued..
Herongate Fitness & Wellbeing Balance Sheet- conlinued 31st March 2024 The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Seciions 386 and 387 of the Companie5 Art 2006 and Ibl preparing financial statements which give a true and fair vrew of the state of affairs of the charitable company as at the end of each financial year and of its surplu5 or deficit for each financial year in accordance with the requirement5 of Seclions 394 and 395 and which otherwise comply with ihe requirernent5 of the Companies Act 2(K)6 relating to financial statements. so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applbcable 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 Sbgned on its behalf bv= AJFord-T The notes form part of these financial 5tatement5 Page 13
Herongate Fitness & Wellbeing Cash Flow Statement for the Year Ended 31st March 2024 2024 2023 Notes Cash flows from operating artiwtiès Cash generaled from operations Interest paid Interest elernent of hire purchase or finance lease rental payments paid 13481 ii.ooii 102,254 17631 111,1291 Net cash lused inllprovided by operating activrties 11,3491 90,362 Cash flows from investinB activities Purchase of tangible fixed assets Sale of tangible fixed assets 14.3871 1,435 114,1621 Net cash used in investing activilies 12,9521 114,1621 Cash flows from financing activities Loan repayments in year Capital repayments in year 111.6671 146,0961 Net tash provided byllused in) finarbcing activities 157,7631 Changè in cash and ta5h equivalents in the reporting period Cash and cash equivalent5 at the beginning of the reporting period 14.3011 18,437 21.488 3.051 Cash and cash equivalents at the end of the reportin8 period 17.187 21.488 The note5 form part of these financial statements Page 14
Herongate Fitness & Wellbeing Notes to the Cash Flow Statement for the Year Ended 31st March 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomellexpenditurel for the reporting period las per the Statement of Financial Actimties) Adjustments for.. Oepreciation charges Interest paid Interest element of hire purchase and finance lease ntaI payments Increase in stocks Increase in debtors (Decreasellincrease in credrtors 29.738 114,6221 20,919 41.858 763 11,129 11021 17,4361 70,664 14061 16.5651 145,0351 Net cash (used in}Iprovided by operations 13481 102.254 ANALYSIS OF CHANGES IN NET DEBT At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 21.488 14,3011 17,187 21,488 14,3011 17,187 Debt Debts falling due after l year 163,7501 46,250 117.5001 163,7501 46,250 117.5LKII Total 142,2621 41,949 13131 The notes form part of these financial statements Page 15
Herongate Fltness & Wellbeing Notes to the Financial Statements for the Year Ended 31st March 2024 ACCOUNTING POLICIES Basis of preparing the finanaal statements The financial staiemenls of the charitable company. which ts a public benefit entity under FRS 102, have been prepared in accordance with the Charrties SORP IFRS 1021 '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 IFRS 1021 leffective l January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2. The financial statements have been prepared under the historical cost convention. with the exception of inve5tmenls 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 recetved ènd the amount can be measured reliably. Empenditure 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 econownic benefits will be required in sertlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classrfied under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated io activities on a basis consistent with ihe use of resources. Tan8ible fixed a55ets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, rf 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 exemplion, 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 accountin Unresiricred funds can be used in accordance with the charitable objeclNes at the discretion of the trustees. Page 16 continued..
Herongate Fltness & Wellbeing Notes to the Financial Statements - continued for the Year Ended 31st March 2024 AccouMnNG POLICIES-conlinued Fund accounting Reslricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fijnds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial stalement5. Hire pur¢hase and leasing commilmenls 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 estirnated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter. Pension ¢osts and other post-retirement benÈffts The charitable company operates a defined contribution pensiort scherne. Contributions payable to the charitable company's pensioth scheme are charged to the Statement of Financial Aclivities in the period to which they relate. DONATIONS AND LEGACIES 2024 2023 Memberships Activity fees Sunbeds Sundry receipts Retail 533,275 72.161 5.463 23.71JO 8,383 431,212 50,322 3,490 15,500 5.208 642,982 505.732 Page 17 continued...
Herongate Fitness & Wellbeing Notes to the Financial Statements - continued for the Year Ended 31st March 2024 RAISING FUNDS oihei trading artivities 2024 2023 Purchases Support costs 44,653 1.765 37,548 46,418 37,548 CHARITABLE ACTIVITIES COSTS Support costs Isee note 51 Direct Costs Totals Lelsure centre 524.460 42.366 566.826 SUPPORT cosrs Governance C05t5 Management Finance Totals Other trading actwities Leisure centre 1.765 5.726 1,765 42,366 11,750 24,890 7.491 11.750 24,89) 44.131 NET INCOME/IEXPENDrruREI Net incomellexpendtturel is stated after ¢harginyJlcreditingl- 2024 2023 Depreciation - owned assets Depreciation - asset5 on hire purchase contracts and finance leases 20,920 11,583 30,275 Page 18 continued.
Herongate Fitness & Wellbeing Notes to the Financial Statements - continued for the Year Ended 31st March 2024 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. STAFF COSTS 2024 2023 Wage5 and salaries Social security costs Othe¥ pension costs 192.032 6,280 2.694 180,504 8.569 4,898 201.IX)6 193,971 The Jverage monthly number of employees during the year was as follows- 2024 li 2023 Staff No employees received ernoluments in excess of £60.. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcnvrriES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 505,732 EXPENDITURE ON Raising funds 37.548 Charitable artivitiÈs Leisure cenlre 482,806 Total 520,354 NET INCOMEIIEXPENDtruREI 114.6221 Page 19 continued...
Herongate Fitness & Wellbeing Notes to the Financial Staternents - continued for the Year Ended 31st March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted fund RECONCILIATION OF FUNDS Total funds brought forward 164,7921 TOTAL FUNDS CARRIED FORWARD 179,4141 10. TANGIBLE FIXED ASSETS Leisure Office equipment equipment Totals COST At 1st April 2023 Additions Disposals 192.164 447 11,7881 15,837 3,940 208,001 4.387 11,7881 At 31st March 2024 I,823 19,777 210,6C(> DEPRECIATION At 1st April 2023 Charge for year Eliminated on disposal 163.802 19,265 13531 14.891 1,655 178.693 20.920 13531 At 31st March 2024 182.714 16.546 199.260 NET BOOKVALUE At 31st March 2024 8,109 3,231 11,340 At 31st March 2023 28,362 946 29.308 Page 20 continued...
Herongate Fitness & Wellbeing Notes to the Financial Statements- continued for the Year Ended 31st March 2024 11. FIXEO ASSET INVESTMENTS Shares in group undertakings MARKET VALUE At 1st April 2023 and 3tst March 2024 100 NET BOOK VALUE At 31st March 2024 100 At 31st March 2023 ILN) There were no investment a55ets outside the UK. 12. STOCKS 2024 2023 Stotks 1.060 654 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments and accrued income 4.837 23,471 825 20.918 28,308 21.743 Page 21 continued...
Herongate Fitness & Wellbeing Notes to the Financial Statements - continued for the Year Ended 31st Marth 2024 14. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade creditors Amounts owed io group undertakings Social security and other taxes Other creditors Pènsion cost payable Accruals and deferred income 32.432 24,282 2.662 15,(KM) 221 15,574 33,564 30.157 3,W7 9,100 440 11,789 90.171 88,957 15. CREDITORS.. AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Other loans (see note 161 17,51K) 63,750 16. LOANS An anafy5is of the rnaturity of loans is given below- 2024 2023 Amounts falling belween one and two years= Other loans- 1-2 years 17,SlXI 15.000 Amounts falling due between two and five years: Other loans - 2-5 years 45,000 Arnounts falling due in more than five years.. Repayable by instalments.. Other loans more 5yrs instal 3.750 Page 22 continued..
Herongate Fltness & Wellbeing Notes to the Financial Statements- continued for the Year Ended 31st March 2024 17. MOVEMENT IN FUNDS Net movement in fund5 At 31.3.24 At 1.4.23 Unre5trirted funds General fund 179.4141 29,738 149,6761 TOTAL FUN05 179.4141 29,738 149.6761 Net movement in funds. included in the above are as follows= Incoming resources Resources Movement expended in f unds Unrestrirted fund5 General fund 642.982 1613,2441 29.738 TOTAL FUNDS 642,982 1613,2441 29,738 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted fvnds General fund 164,7921 114.6221 179,4141 TOTAL FUNDS 164.7921 114,6221 179,4141 Page 23 continued...
Herongate Fitness & Wellbeing Note5 to the Financial Statements - tontinued for the Year Ended 31st March 2024 17. MOVEMENT IN FUNOS- ¢ontinued Comparative net movement in funds. included in the above are as follows= Incoming resources Resources Movement expended in f Ltnds Unrestricted funds General fund 505.732 1520.3541 114.6221 TOTAL FUNDS 505,732 1520,3541 114.6221 A current year 12 months and prior year 12 month5 combined position is as follow5.. Net movement in funds At 31.3.24 At 1.4.22 Unrèstri¢ted funds General fund 164,7921 15,116 149,6761 TOTAL FUNDS 164.792 15,116 149.6761 A current year 12 months and prior year 12 months combined net movement in fun(15, included in the above are as follows= Incoming resources Resource5 Movement expended in funds Unrèstrirted fund5 General fund 1,148,714 11,133,598) 15,116 TOTAL FUNDS 1.148.714 11.133.5981 15.116 Page 24 continued...
Herongate Fitne55 & Wellbeing Notes to the Financial Statements - continued forthe Year Ended 31st March 2024 18. RELATED PARTY DISCLOSURES There were no related party transact40ns for the year ended 31st March 2024. Page 25
HeronEate Fitness & Wellbelng Detailed Statement of Financial Activities for the Year Ended 31st March 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Memberships Activity fees Sunbeds Sundry receipts Retail 533.275 72,161 5.463 23,700 8,383 431,212 50,322 3,490 15,500 5,208 642,982 505,732 Total incoming resources 642,982 505.732 EXPENDITURE her trading activitles Purchases 44.653 37.548 Charitable activities Wages Social security Pensions Rates and water Insurance Light and heat Telephone Athiertising Cleaning 192,032 6,280 2,694 19,200 9,391 145,235 2,553 3,110 19.514 180.504 8,569 4.898 18,745 6.781 86.085 1.322 2,401 11.437 I 11 Staff welfare Subscriptions Travelling Staff training Medical insurance Uniforrrhs Computer costs Health and safety Waste Carried forwaid 25 34 998 827 2,799 35 487 6.139 1,048 1,410 334,519 136 2.028 35 740 4,519 1.542 410,881 This page does not form part of the statulory financial statements Page 26
Herongate Fitness & Wellbeing Detailed Statement of Financial Artivities for the Year Ended 31st March 2024 2024 2023 Charitable actiwties Brought forward Licences Regular hire charge Repair5 renewals Depreciation of leisure equipm ent Depreci3tion of office equipme nt 410,881 5.566 449 86,645 19,264 1,655 334,519 3,597 449 54,772 38,425 3,433 524,460 435.195 Support costs Management Postage and stationery Sundries 6.347 1,144 4,849 885 7.491 5.734 Flnance Bank charges Credit card Loan Hire purchase 372 10.377 I,(J)i 413 8,823 763 11,129 11.750 21,128 Governance ¢¢sts Accountancy fees Legal fee5 11,413 13.477 9.168 11,581 24.890 20,749 Total resources expended 613.244 520,354 Net inc<)mellexpenditurel 29,738 114.6221 This page does not form part of the statutory financial statements Page 27