REGISTERED COMPAMY NUMBER: 14569274 (England and Walosl REGISTERED CHARITY NUMBER: 1206266 of the TruBtees and ATC Advistys UNt 2 Dwthevgd Crt Pennygllam Way LAUNCESTON PL15 7ED
ure Cenlre Lwnited Conionis oftho Fl for th• Y••r Endod ents 2025 Report of th• Tr1•* 1 10 3 Indepondent Examlnarfs R•port Slatefflent of FlnanGlal Activlt 6 to 7 10 to 17 18 to 19
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Tru forth•Y REFERENCE AND ADMIMISTRATIVE DETAILS Rogi$tsr•d Company number 14569274 (Engl81 arKJ Wales) R•gl8tered Ch•rfty numb•r 12 Reghtered offi Unit 2 Dunheved CrA PennygilLim Way Pennygillam Inthstsial Estate Launceslon Ccrnll PL15 7ED MT M W Davey C8¢ l Oevelopment Mr P J M Stevenson Chartered Accountant (re1 20.2.24) Mrs M L Potten Director {re$lgned 6.9.24) Mrs J L Hawksrth Olfice Manager {aFwinted 4.11.24) Ms J Rud9& A¢¢ountart (appointed 4.11.24) (resIed 24.6.25) Mr P A Harrison Managing Director (appointed 4.1124) MrT B Glendinning Mtxtgage Ad¥i8or1oppJinted 4.11.24) Mr O D R Scott He•J Teadw (app)inted 4.1124) Indèpendent Examlner Saiah Gay FCCAIACA ATC Advisors Chartered AcrLJuntants Unil 2 Dunheve(I Court Ponnygillam Way LAUNCESTON Comwall PL15 7ED A[royed by order of t board ofl and swd its thall by.. Mr M W Davey- Tru8lee Page 3
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mit•d
Indop•nd•nt•xamSn•rfs report to the trustoes of Launceston L•isurn Centr• UmFl•d fth• Compan)
I rèpcrft to thè chaiity trust88s on my èxarn1nati olthè aCCts ofthè Compary for thè year ènde
Llm Statement of Flnanclal Actlvllles for the Year Ended 31st JaIa Period 4.1.23 Yoar Ended 31.1.2S Unrn•trlct•d fund 31.1.24 Total fd8 INCOME AND ENt)OWMENTS FROM )nations and lagaues 83.633 Chatltrbl• actlvttl•¥ Chafitable Aclivities 485,6B2 340,703 Other trading actNibes 26.619 13A55 Total 515,747 417.791 EXPENDITURE ON Raising 14.331 Charllabl• act•8 Charitable Aclmt 463,535 474,837 Total 47Y.866 479.646 NEf INCOMEIIEXPENDITUREI 37A81 (61.855) RECONCIUATION OF FUNDS Total fij1$ tougM fcThd (61 M55 TOTAL FUNDS CARRIED FORWARD 123,974) 161.855)
Llm Stat•mert of FlnaTrcSal Po8lUon 2025 UnroStrl¢t fvnd 2024 Total fund FIXED ASSErs Taryble a88ets 13 11017 13,421 CURRENT ASSETS Sto¢ks Debto Cash 81 bonk ond In hand 14 15 1,808 13,300 5&677 I8,12 9.675 71.783 30,383 CREDITORS Amounts falling duev•ithin one ye 16 117,7741 30,659) NET CURRENT ASSETS 54.009 (2761 TOTAL ASSEfs LESS CURRENT UA8ILmES 66.026 13,145 CREDITORS mounts falung after nMJre than one year 17 (90.000 (75.LK(JI NET ASSET8IIUABILmESI (23.974 (61,8551 FUNDS Unrestitled fvNI$ 19 123.974) 181.855) TOTAL FUNDS 123.974) 161.855) Th• Chari&1e company 18 entlled to exry1m from a111 under Sedwjn 477 of the CompaThe8 Ad 2CIJ8 for the year onded 31st January 2025. The m?mber3 have rvJt wuirgd the nPY to otrrtan awkt of its fwwrial slatements frjr Ihe year eThJed 3181 JaNary 2025 in xwdance vAlh SecliN1476 oflhe Comp$ Acl 2Cth. Th• trustegs ackncp•Aedge their fesponsljilities (a) ensuriThJ that the Chalitle comwy kew a¢cgxwMry red& ltst comply wilh Seclions 386 antj 387 of the Companies Acl 2fJ)6 and prepaiing finwKio1 slaternents gr¥e o true •d fw viw ol ts $18le of aff¥ws of thorilab Compgny a$ al the eNI of each financta year and of *s surtkn or fcff each fincIal year in accordance wth th8 r8quirements of se¢On8 394 395 and 7•h¥ch othervri8e cwly vthh the requiremenls of the Companies Act 2006 relating to fin(¥al statements. so far as aWicable lo the tharitable cunpany. (b) Pa98 6 conlinued...
Statement of Flna 31stJaN These financial $18tements ha¥e been in accordm the provis)ns aM)lablo lo charit8bSe companie8 subie¢t to the $mall e<MTh)8ni8S Tegime. The financial statements re aFyroved ty tIK Bod ol Tn*t••s and aulhori1 for issu• and were sw3ned cffl its beh41 ty. Mr W Oavey- Trustee irs J L H8rth. fu8
nco8ton Lelsure Centrn Llm Sl8t•nwrt of C•sh Flow• Yoar Ended 31•t Ja 20 Period 4.1.23 Yr Endod 31.1.25 31.1.24 Cash 9gner*ed from OFeralicffls 50,812 25.127 60,812 25,127 C•8h flows from In¥tIng actl4rft Purchase of tangle red assets 12.210) 117.052) N•t Cash usad in IntIl9 11118S 12.210) 117.052) Change in ¢a•h and ¢ah •gufvahnl¥ In the repor¥ng rIOd Ca•h ¢a8h equlv•lonts 4tth• boglnnlng of th• raPIng p•rlod 8,075 8.076 Cash #nd cash ¢qul¥alents at tho •nd of the veporting pwlod 56,677 8.075 Page 8
to the Statement of C the Yr ENled 31 RECONCIUATION OF tIET IMCOWIEXPENDITURE) TO NET CASH FLOW FROM OPERAnNG ACTMTIES Period 4.1.23 lo 31.1.24 Year Ermlgd 31.1.25 Net incmie1lexpditUreI forthe r•PO p•rlod (M p•rth• St•tenwnt of FancIal A¢ilNltle•) Adlustm•nts for. Depre(aalion chwges Ir9$0 in stk¥ D•creasellincr•As•l kn d•bt Increase In uedlto 37M81 {61.855) 3.614 3.631 I1,8() (18,2) 104.059 5.602 3.715 N•t cmh provld•d by op•rnlloM SO.812 25.127 ANALYSIS OF CASH AND CASH EQUIVALENTS 2025 2024 Cash In h¥KI Notice deposrts {les$ than 3 Thth$) rdraft$ inL¥udod in bk I¥ o¥¢r¢hts fja9 •kn ye 1.825 54852 8.175 {l,e) Total e4sh and cash Ualents 56.677 8.075 ANALYSIS OF CHANGES IN NET FUNOS At 1.2.24 Cash At 31.1.25 ¢ash C8$h al bank and in h¥J 88nk overdraft 9.675 (1.6001 47.002 36.677 8.075 48.802 56.677 8.075 48.602 56.677
Flnanclal S
ACCOUNTING POUCIES
Basls of pr?rIng th• firwn¢ial •tatam•nt
The financial statements of the caritable ccffipany. which is a public benefft entity under FRS 102, have been
prepared in acc4Jrdance rylh Ihe Chatibes SORP (FRS 102)'A0ting and Re)rting by Charities.. Statement
of Recommended Pracc #ppkable to ¢lwibes prep8rirwJ the¥ a(x)Junts in acc4)rdance with the Financ4al
Reporting Stsndard applicable in th• UK aThl Reput of Ireland (FRS 102) {effacfv8 1 January 20191., Flnandal
Repoiting Standard 102 Thè Finarri81 R8portiry StAntlard applablè in the UK and Rèpublie of Irèlartrt and I
Companies Act 2QX. The financial statements have been prepared Lmder the hislorlcal cost nVenth'On.
Income
JI income is rwised in the Staterrtnt of Fmanc481 Adr¥ilM orKe the dlIty ha8 ¢ernent to the (LdS, it
is prcthLle Ihat the ¥i¢omo be ond Ihg bo mO8SLrod rolobly.
sales taxes and net ofVAT.
Expondlturn
Liabilities are Tecowi8ed a8 experSlure as SO as thwe is a kgal OT (StrU1ve obligation rL)mmilt¥ig the
charity lo that expenditwe. it is probatA¢ that a transfer of economic benefits will be requed in setutrment and
the of the oNigatwy) ¢an be measur¢d r¢liabty. Expenditure Is aCCnIe¢l for on an 8ccrual8 basis and
ha$ ba•n dasSffi urthr headwigs that aggregate al cosl rnlated to the category. eosts Cannot b•
dirg¢tly attribuled to partKJJlar headrys they ha¥E teen alocated to actTrrities on a basis consistent wlh the use
Baslc flnanclal1Sabllltl
8881¢ firt8wal liabilrfiès. erèthtors. af• iniliaty rncJjThSOd al transaction prie• LrA8ss lh• orran9èment
¢M$tituto$ a finanang Iransaclion. ¥•there a debl instrument be measured at the present value of the
fulwe receipts discounted at a market r of interest. Finanaal kablities dassified as payatle wiihin one ye
are not amor11s. Trade (xe(JtOfs are oblytson¥ to pay for gw)od8 or Ser¥e$ that have been ao¥4uired in the
Ordary courne of iwsmss from suppliers. rIe We recwised inilialty at transa¢Xp)n PriL ond are
sub8equerfy measwe
Lknltsd Flnan - ¢ontin 2025 AccouTrmNG POUCIES- conllnu•d Hlre purch0¥0 •nd Iwing CCrfTMnlbnwrt4 Rentals paid under operaling lea8es are to the statem of Financial Ad1Vits on a stralghl Ilne basis over the pwiod of the1&8Se. The charitaNe Comparty oper$ a deffined L%ntrtArfion pertsion s(e. Contributions payable to th• charilabt8 companls nSIOn $dm chad to thè Ststemenl of Fln)dal ActNitie8 in ihe period to which they relate. t)onated or fafylties a recogntsed when Ihe has ccffllml over Ihe Item. any conditi9 assoa8led Y•rylh the donated item h8ve been met. the Teeeio of Onom benefft from the use of the Ilem 1$ Oonated prolessional seNces and facilities induded kn 1Thme al the eslinated value of the gift to the drity when receNed. based on the am01 thal the charity haw been preparèd to pay forthè8e or fa¢ilitses had it been requred lo purthase them. ¥ith a coffesp)ndin9 entry in th9 appropriats expenditure heading for the $ame amounl. Donated fixed assets 8inlarty tkn to IncMe at the vakne lo the Charfty ith the other enty being capitali¥ed as8ets. drity has tsken advanla9e of 34 of FRS 102 to refY)wse the interest free loan that it has receNed as a Concessiary loan. A8 Sth. the tharity rwnises and measure$ the loan al the anount received, ilh the cawiing amwrt •4'u8ted years kn refieca repayments and any accrued interest. DONATIONS AND LEGAcies Per 4.1.23 Year End•d 31.1.25 31.1.24 Donations Grants 11,567 52, 63.633 Period 4.1.23 lo 31.1.24 Year Endod 31.1.26 Other grants 3,446 52.066 OTHER TRADING ACTivmES Period 4.1.23 to 31.1.24 Year End•d 31.1.25 FocJ & think saes Clothing sales Ott*r 8al&s 17.431 6.250 2.938 3.462 3.970 6.023 26.619 13,455 Page11 ¢oniinu8d...
for the Year Endpd 3 INCOME FROM CHARrrABLE ACTivmES PerYJd 4.1.23 to 31.1.24 Year Ended 31.1.25 Activity Charitable Adi¥itRs Sports Hall Hye Casual Swim &M Lessons 13,852 41,190 143,783 31,739 240,229 14.889 13,933 46,231 82.878 23,245 164.073 10,343 Charilable ActlIeS Membgrships Casual Gym Chai1kb ACtslIes 485.682 340.703 RAISING FUNDS Othwtradlng aclfvlti 4.1.23 to 31.1.24 Yoar Ended 31.1.26 Purchases 14J31 4.809 CHARITABLE ACTIVITIES COSTS Direcl Support Costs {se8 costs (see note 8) Totals 238.713 224,820 463.535 fMRECT COSTS OF CHARrrABLE ACTMTIES Period 4.1.23 Year Ended 31.1.25 31.1.24 Stsff costs 238.715 196.218 SUPPORT COSTS Govema costs Other Totals Charitable Actr4it18S 206.150 18.670 224.820 P8ge 12 continued...
imltsd Fl for th• Y•ar En SUPPORT COSTS- contlnued SuppcKt ¢08ts. indLrtl•d in the at#M. arn as folhxs.. Pèriod 4.1.23 lo 31.1.24 Total Iwlios 31.1.25 Chartt•blo A¢tlv6tlgs Adverting Rale$ and Insurance Light and heat Telephone Postage and Statiow Surmyries Ryrs and renertals Cleaning Slaff Training Unlfom$ Irrecoverable VAT Depreciation oftsngible rj a88ets Bank fees 1.180 15.816 8.842 88.029 1,470 2,172 2.100 2.335 16,rA6 8.744 104.119 934 4,056 1.B54 34,291 6,079 4903 3.514 38h23 3.631 6,066 8.305 5.335 1724 31,614 1614 10,086 425 206.150 241.789 Per 4.1.23 Y•ar Ended 31.1.25 Charila)le Acwties 31.124 Total vKiivitios 1,575 17.095 1,500 35,330 Profe88ionaJ fees 18,670 36,830 NET INCOAIEIIEXPENDITUREI Nel Income1(eeTrjltUrej is sLed after dwryinty(c¥edithWJ): Period 4.1.23 Year Ended 31.1.25 31.1.24 3,614 1,180 3.631 2.335 Hwe ol plant and m•*ir P•Je 13
10. TRUSTEES. REMUNERATION AND BENEFITS There were no trust. rentsKfakn beneffts the erKled 31st Jamary 2025 nor kn the porfod ended 3161 Juary 2024. Truts•s' •xp•n• Thorg vrfre no trustees. expenses paJ the year eThJed 3131 January 2025 Th)r for the pericJ erthd 31st January 2024. 11. STAFF COSTS 4.1.23 lo 31.1.24 Yr Ended 31.1.25 Wwjes and sas 81 Secuty costs other pension ¢08ts 231.881 1914 3.920 185,687 2,880 7,651 238.715 196.218 average nwnber of emrAffjw duriN4 the year a8 frA1c#'. Period 4.1.23 to 31.1.24 19 Y&4r Erthd )1.1.25 24 Averaw number ofemployees 12. COMPARATIVES FOR THE STATEMEIIT OF FiIIANCIAL ACTIVITIES Ufftstricted nd INCOME AND ENDWENTS FROM Donations legacaes 63.633 Charltsble ac¢lvltkn Charltsblè Acbvibès 340.703 C4herlJadng athbes 13,455 Total 417,791 EXPENDITURE OM Raising luThJs Chril•ble a¢tlT¥lile• Charitable Actiyibes 474.837 T¢)lal 479.646 NET INCOMEI{EXPEMDITURE) {61,855) TOTAL FUNDS CARRIED FORWARD 161.8551 Page 14 ccffllinued...
Nolo8 to thè Fln clal Statsme r Enthd 31st Jan nu•d 13. TANGIBLE FIXED ASSETS Pknl aThY m•chinery COST Al 1st Fabruary 2024 Addlllons 17,052 2,210 At 31sl January 2025 19.262 DEPRECIATION Al 1st Fe 2024 Charge for 1631 1614 Al 31st Januwy 2025 NET BOOK VALUE At 31sl janu 2025 12,017 At 3181 Janw 2024 13,421 14. STOCKS 2025 2024 Sto¢k$ 1006 15. DEBTORS.. AIIOUNTS FALUNG DLIE WITHIN ONE YEAR 2025 2W24 Trade debtors olher dabt$ VAT Prepaymenls 3.673 2,140 3,541 131 9N96 13,090 13.3 18,902 16. CREDITORS: AhlOUNTS FALUNG DUE TMTHIM OME YEAR 2025 2024 Bank I$ Ove[artS (see 18) Trade cr8thlors Sodal secutity and other layes Other creditors 13.979 595 625 2,575 12,536 152 9,126 7.245 17.774 P16 ntinu8d...
otes to the Finan ents- con15nl for the Year Ended 31st Janua 2025 17. CREDITORS: AhlOUNTS FALUNG DUE AFTER IAORE THAM ONE YEAR 2025 2024 Conce&gonary Lo 90,000 75,(X)) LOANS An anatysis of the maturity of loans is gh%w bekw. 2025 2024 nts falling due *ilhwi one yew cffi ¢knw¥J: Bank overdrafts 1.800 19. MOVEIIEIIT IN FUNOS movem•nt in fwds Al 1.2.24 31.1.25 unrg¥ts1ct fund• Genetal fund 161.8551 37.881 123.9741 TOTAL FUNDS (61.8551 37.881 (23,9741 Net movement in knds. wK4ude(l Mi thè above are as Resource$ Movement in funds General fund S15.747 1477.866) 3781 TOTAL FUNDS 515.747 1477.8661 37,881 ComparaJv08for moyamenl In fundj movement in funds 31.1.24 Unrostrlcted funds General lund (61.855) (81.855} TOTAL FUNDS 161.855) (61,855) Comwative net nKivernent in IL¥¥Js. induded in the alThp we as fr1(: Incorr9 Rèsources Movomont expended In funtJ$ Vnrestrl¢tsd funds General lund 417.791 {479.646) 161,855) TOTAL FUNDS 417.791 1479.6461 181,855) Py16 ¢#lnU0...
Nots8 to the Flnancial Staleme forth• Yur Ended 31 tJa RELATED PARTY DISCLOSURES Throu9h<yJt the lod. an ad¢lion £15.CO) has tjeen Irkingj to the charity from Limited. of whi trustee M Davey is ihe sole director and shwthcthr. Ths is rJJrTenlty wesented as a concessionary loan on vthich no interesl 15 being tharged. totsl Wance of ch rKW 5taTrJs at £.000. A balancE was owed by th• charity lo Boring¢kn Pk 8$ at 31st Jarwry 2025 of £414.32 the rewnbur8ement of exp¥Ilur0 paid by Boringdon which is CAvrÈed by 8r04bnbrink Limited. Payments haw also bem ma(le the perfod lo Trwe D Constftmlon Lwthd (ol which M Oavey is a dC for r8paws and mnIeTr to th• thj. These toldlad £1.970. 21. INDEPENDENT EXAMINER REMLINERAnOM 2025 2024 AcCnIOn¢Y Indendent EXaminn 525 i.oso 12.224 14.361 13.799 15.861 Page 17
Detalled Stateme lor the Year Ended 31¥t Period 4.1.23 lo 31.1.24 Year Ended 31.1.25 INCOIJIE AND ENDOWMENTS Domllons and legacles Donthons Grants 11.867 52.086 Other tradlThJ a¢tlvlttgs Foroj & drink soles ClothirwJ sales Other 88188 17.431 3,462 3,970 6.023 2.938 26.619 13,455 Charftabh a¢tlvlt108 Sports Hall Flire Casugl SMM Swlm Lessons School S4MmmThJ Lesscffls Membership8 Casual Gym 13,852 41.190 143.783 31.739 240.229 13,933 46,231 82.878 23.245 164.073 10.343 485.682 340,703 T¢)tal In19 resourcos 515.747 417.791 EXPENLMTURE Other trathng actlvitl 14,331 4.809 Charitabl• actlvlll•• Wages Sw81 socurlty Pe10r 231,881 2,914 3.920 185.687 2.880 7.851 238.715 196.218 Suppct cost8 Advertisng Rates and water Insuranc• Light and la¢ Telephone Postage and slatIry Sundries Repairs and rene•ras Cleaning Staff Training Carried foNMrd 1,180 15,816 8,842 88.029 1,470 2.172 2.100 24.353 5.335 2.724 152.021 2.335 16.536 8.744 104.119 934 1.854 34,291 6,079 4,903 183.850 This page thjes rwjt lo part Of1 stslukny firharKial slateffwls Page 18
LaureStOn Lelsure Centre L5mlted Delalled Statement fvr the Year 31st 2025 4.1.23 lo 31.1.24 Year End 31.1.25 Brou9hl fon¥ard UlformS Irr•cov&rable VAT Plant and machinery Bank fees Comwtgr expws 152,021 390 31.614 3,614 10,086 8A15 183.850 3,514 38,423 3.631 6,305 206.150 241.789 Governance co•t* Accountancy fees Profeson81 fee$ 1.$75 17.095 18.670 36,830 Total res¢8$ expended 477.866 479.846 Mot jn¢omd(oxpgndltuMI 37.881 161.8551 Page19