Company registration number: 01218639 Charity registration number: 267781
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
Chartered Accountants
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 11|
|Independent Auditors' Report|12 to 14|
|Statement of Financial Activities|15|
|Balance Sheet|16|
|Statement of Cash Flows|17|
|Notes to the Financial Statements|18 to 29|
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**REFERENCE AND ADMINISTRATIVE DETAILS**
|**Charity Registration Number**|267781|
|---|---|
|**Company Registration Number**|01218639|
|**Principal Office**|Brewery Fields|
||Bridport|
||Dorset|
||DT6 5LN|
|**Trustees**|Mr Alec Bailey, Treasurer|
||Mr Allan Staerck (resigned 15 November 2022)|
||Mr Peter Brook (resigned 15 November 2022)|
||Mr Malcolm Heaver, Chairman|
||Mr Nicholas Chandler (resigned 15 November 2022)|
||Mr Nicholas Thornley|
||Mr Frederick Fowler|
||Ms Zoe Miles (appointed 15 November 2022)|
||Mr Philip Summerton (appointed 15 November 2022)|
||Ms Deborah Fox (appointed 15 November 2022)|
||Ms Caroline Saunders (appointed 15 November 2022)|
||Mr David Morley (appointed 15 November 2022)|
||Mr Nicholas Johnson (appointed 15 November 2022)|
|**Solicitors**|Porter Dodson|
||21 South Street|
||Bridport|
||Dorset|
||DT6 3NR|
|**Auditor**|Edwards & Keeping|
||Unity Chambers|
||34 High East Street|
||Dorchester|
||Dorset|
||DT1 1HA|
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
## **Objectives and activities**
## _**Objects and aims**_
The Charity’s objects are:
• To provide, or assist in the provision of, facilities for the benefit of the inhabitants of West Dorset and the surrounding area for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large, in the interests of social welfare and with the object of improving their condition of life and their mental and physical wellbeing; and/or
• To promote community participation in healthy recreational activities; and/or
• To carry out such other charitable objects consistent with the above, which the Trustees, in their absolute discretion, determine.
In furtherance of these objects, the Charity has power to do anything which is calculated to further its object (s) or is conducive or incidental to doing so. In particular, the Charity has power:
- To provide, or assist in the provision of, recreational facilities;
• To provide a wide range of recreational activities to encourage all sections of the local community to participate in recreational activities and promote mental and physical health;
• To raise funds. In doing so, the Charity must not undertake any taxable permanent trading activity and must comply with any relevant statutory regulations;
• To buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and equip it for use;
• To construct, maintain and alter any buildings, erections or works for the furtherance of the Object(s) of the Charity;
• To sell, lease or otherwise dispose of all or any part of the property belonging to the Charity. In exercising this power, the Charity must comply, as appropriate, with Sections 117 and 122 of the Charities Act 2011;
• To borrow money and to charge the whole or any part of the property belonging to the Charity as security for repayment of the money borrowed or as security for a grant or the discharge of an obligation. The Charity must comply, as appropriate, with Sections 124-126 of the Charities Act 2011 if it wishes to mortgage land;
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
• To co-operate with other charities, voluntary bodies, educational and statutory authorities and to exchange information and advice with them;
• To establish or support any charitable trusts, associations or institutions formed for any of the charitable purposes included in the Objects;
• To acquire, merge with or to enter into any partnership or joint venture arrangement with any other Charity;
• To set aside income as a reserve against future expenditure but only in accordance with a written policy about reserves;
• To employ and remunerate such staff as are necessary for carrying out the work of the Charity. The Charity may employ or remunerate a Trustee only to the extent it is permitted to do so by Article 6 and provided it complies with the conditions in that Article;
To:
> Deposit or invest funds;
> Employ a professional fund manager; and
> Arrange for the investments or other property of the Charity to be held in the name of the investment manager or equivalent;
In the same manner and subject to the same conditions as the Trustees of a trust are permitted to do by the Trustee Act 2000.
• To provide indemnity insurance for the Trustees, in accordance with, and subject to, the conditions in Section 189 of the Charities Act 2011.
• To pay out of the funds of the Charity the costs of forming and registering the Charity both as a company and as a Charity.
The Charity aims to provide the inhabitants and visitors of West Dorset with an accessible, affordable and community focused facility offering a diverse range of exciting and up-to-date activities.
The main objective for this year is to ensure that the leisure centre bounces back from the effects of Covid-19 and continues to provide a high-quality leisure service, fostering sustained usage of the facilities at the Centre and the appreciation of health and wellbeing, the provision of facilities for the education and enjoyment of the public in the field of sport and recreation.
As the Trust continues to recover from Covid-19, all strategic documents supporting the achievement of the Charity's objectives (Business and Strategic Plans) will be updated.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
## **Objectives, strategies and activities**
For the first time in 2 years, the Trust found itself able to operate uninterrupted by Government restrictions and therefore switch from a survival to recovery mindset.
There continues to be several challenges that the Company faces - with a dynamic and pragmatic approach being adopted to overcome / manage the situation.
Major areas of focus for the business continue to be _The Fitness Suite, Fitness Classes, Children’s Activities and Swimming_ .
The Membership has continued to grow and in March 2023, the Company closed with 1,554 paying members (excluding Pay as You Go) - compared to 1,384 in March 2022 an increase of 170.
All areas of the business continue to be well utilised by Members, and the Centre Management continues to monitor industry and Centre specific trends. Exercise classes continue to be reviewed on a quarterly basis.
Over the next twelve months, the Centre will continue to offer a diverse and accessible range of activities - and look to introduce activities that will increase Centre usage.
In December 2022, the Centre relaunched its Gymnastics Programme - adopting the British Gymnastics ‘RISE’ framework which has been specifically designed for Leisure Centres and it has proved extremely popular. In addition to this, the Centre has introduced SEN swimming lessons and has continued to review and adapt its swim school.
March 2023 saw the Company close with 436 children’s activities members - compared to 387 in March 2022 an increase of 49.
There continues to be several competitors within the local area, therefore the Business recognises the importance of being one step ahead and ensure that Centre users are provided with a premium service. There will also be a specific focus on the Centre’s unique selling points i.e., Skill X, Group Cycling and a facility all under one roof.
Over the next 12 months, the primary focus will be to both increase the paying Membership and Children’s Activities base and look at the yield of those services in comparison to competitors. In turn, these increases will contribute to an increased utilisation of _The Fitness Suite, Fitness Classes, Children’s Activities and Swimming._
The Trust will continue to engage and establish links with local schools and other collaborative parties/stakeholders, to help deliver and sustain the Charity's aims, and where possible link these with medical and education directives.
Community Partner (previously Corporate) and Family Memberships will also be implemented as the Business looks to expand and diversify its Membership offerings.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
Rising operating costs, whilst continuing to recover from the impact of the previous 2 years led the Trust to expect a challenging twelve months (April 2022 - March 2023).
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
It was forecast that income would significantly increase on the previous year, the challenge would be controlling expenditure as operating costs significantly increase due to the higher rate of inflation.
Income has increased by £192,737 in this financial year, £1,224,867 in 2022/23 compared to £1,032,130 in 2021/22.
This increased revenue can be attributed to Memberships, which has increased by £127,692 along with Courses & Activities, which has increased by £88,405 compared to 2021/22.
The Centre reports an increase of 43,721 in footfall, with 133,317 visits recorded in 2022/23 compared to 89,596 in 2021/22.
Headline statistics which support the attendance figures above are:
- Swimming Pool Visits (inc. Classes & Swim School) +13,028 2022/23 = 50,941: 2021/22 = 37,913 • Fitness Suite Visits +13,829 2022/23 = 35,364: 2021/22 = 21,535
- Group Exercise Classes +9,026 2022/23 = 32,974: 2021/22 = 23,948
Swimming continues to be well utilised, and following a review of the Membership packages by Centre Management - utilisation of the Fitness Suite continues to increase. It is hoped that the usage statistics continue to increase in line with the Trusts objectives.
Over the next twelve months, the Centre will continue to offer a diverse and accessible range of activities - and look to introduce activities that will increase Centre usage.
The Membership has continued to grow and in March 2023, the Company closed with 1,554 paying members (excluding Pay as You Go) - compared to 1,384 in March 2022 an increase of 170. This increase can be attributed with a return to normality, alongside a comprehensive review of the membership packages.
Children’s activities members closed on 436, an increase of 49. This increase can be attributed to the reintroduction of Gymnastics and the introduction of SEN swimming lessons.
The carbon footprint measurement: Display Energy Certificate (DEC), has once again been scored at efficiency level ‘B’.
Although the utilities market has stabilised in the last 12 months, it still remains extremely volatile - and with the Centre’s main electricity contract due for renewal in October 2023 several energy savings have already been implemented:
> Due to its inefficiency, the thermal element of the existing PVT system remains switched off, > The pool hall lighting has now been upgraded to LED efficient bulkheads. This project was part funded by Low Carbon Dorset,
> Continued upgrade to LED throughout the Centre.
Several other energy saving projects are in the pipeline for the next 12 months, these include:
- Installation of more solar panels on the roof
- Upgrade to Rugby Pavilion lighting
- Wetside boiler upgrades and intelligent communications with the Building Management System
- (BMS).
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
Several of these projects will be costly, therefore grants or other financing methods will need to be sourced.
Actual income against budget was over by 10% with expenditure 12% over budget. The overspend can be directly attributed to the increase in operating costs.
The Centre staff deserve credit for their adaptability as the business continues to evolve, and the Centre Management is pleased to have a created a positive team working culture throughout the business. A positive customer experience remains a primary objective and this high level of customer service is what sets the business apart from its competitors. Staff enthusiasm and energy aids the delivery of the Charity’s objects and makes members feel valued and welcome when visiting the Centre.
It is expected in the next 12 months that expenditure will significantly increase, and therefore it is essential that the business increases its income to offset this rise.
The continued commitment and dedication of staff and directors to offer an accessible community facility, accessible to all ensures that service and facility standards are not adversely affected and remain high.
It remains synonymous within the Charity, that staff are encouraged to upskill and elevate themselves within the Centre’s own hierarchal ladder or at other facilities within the industry. This is something of which the Trust is rightly very proud and fully supports where internal promotion is not always possible.
In terms of continued improvement, the Centre and its Staff remain committed to improve the customer experience - something that is very much our unique selling point.
## **Capital Development**
In the last 12 months, the Trust has undertaken two capital projects:
1. Swimming Pool Lighting - the existing lights were inefficient and started to fail. Therefore, it was decided that an upgrade of the pool lighting was required - this was part grant funded by Low Carbon Dorset. It is expected that these lights will reduce energy consumption on poolside.
2. Swimming Pool Regrouting - this essential project was undertaken in order to prolong the life of the swimming pool and minimise any further damage to the pool tank. This project was part funded by a Just Giving page with donations from members and locals who recognise the importance of the facility.
## **Financial review**
Rising operating costs, whilst continuing to recover from the impact of the previous 2 years led the Trust to expect a challenging twelve months (April 2022 - March 2023).
It was forecast that income would significantly increase on the previous year, the challenge would be controlling expenditure as operating costs significantly increase due to the higher rate of inflation.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
Alongside the increase in income, expenditure has also significantly increased - this increase can be attributed to the following:
- Light, Heat & Power + £10,047.29 against budget
- Water + £11,869.97 against budget
- Service Agreements + £16,827.56 against budget
- Pool & Chemicals + £10,514.59 against budget
It is expected that in the next 12 months, these overheads will continue to increase - along with an expected increase to staffing costs as the business continues to grow.
The Trust continues to receive a management fee from Dorset Council (previously WDDC) for the services that it provides as part of the 1992 agreement and remains appreciative of their support.
The Charity continues to recognise that:
a) The dryside element of the Charity's operation, cross-subsidises (to an extent) the wetside operation.
b) Without a management fee or extensive capital investment to create further opportunities for increased revenue, the Charity will not be able to sustain its operation as it currently stands.
The Trust remains hopeful that a long-term resolution can be agreed with Dorset Council to allow the Trust to continue to deliver its objects to the town of Bridport and its surrounding areas.
The Centre recognises that the greatest opportunity to increase its revenue stream is to increase the Membership base to levels exceeding 1800 and the further expansion of the Children’s Activities Programme.
The Charity remains appreciative to Bridport Town Council for continuing to provide a grant to assist with meeting the Charity's financial objectives.
Finally, the Trust remains indebted to the Palmer family for its generosity over the last 46 years to charge a peppercorn rent to Bridport Leisure Centre for the land on which the site is situated.
In the last 12 months, a lease extension has been agreed with Palmers until 2064, which will allow the Trust to apply for large grants and provides long term security for the business. As part of this extension, a commercial rent will be applied from 2034.
The Trust has also successfully handed over the evening and weekend operation of the Rugby Pavilion to Bridport Rugby Club, allowing the Management to focus its efforts solely on operating Bridport Leisure Centre.
## _**Policy on reserves**_
The Centre is unique in comparison to other local authority sites who receive management fees, as it owns the building and assets and therefore is directly accountable for all repairs.
The Charity continues to be uncertain of the long-term sustainability of local authority management fee, and along with recommendations within the Savill's report; financial reserves need to be built in order to fund possible emergency repairs and any other unexpected expenditure.
## _**Investment policy and objectives**_
Under the Memorandum and Articles of Association, the Charity has the power to invest in any way the Trustees wish.
The Trustees, having regard to the liquidity requirements of operating the Sports Trust and to the reserves policy, keep any available funds in an interest bearing deposit account.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
## **Plans for future periods**
## _**Aims and key objectives for future periods**_
It is essential that the Trust remains the central hub for the provision of sport and leisure activities within the community for many years to come. This objective becomes more challenging with increased operating costs and the emergence of local competitors.
As a Trust, there is now a much clearer strategic view to overcoming these barriers.
There remains a concern regarding the ageing fabric of the building, and it is the Trust's goal to obtain finance to carry out improvements through a continued management fee, capital injection, reserve funds, grant applications and potential 106 monies.
A core objective of the Trust and Centre is: “To provide, or assist in the provision of, facilities for the benefit of the inhabitants of West Dorset and the surrounding area for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large, in the interests of social welfare and with the object of improving their condition of life and the mental and physical wellbeing”.
Therefore, continued user engagement is essential to develop and improve all elements of the operation.
The Trust has an excellent track record for developing its facilities and has grown impressively in terms of facility provision over the last 45 years.
It is a goal of the Trust to continue this objective and continue to develop a desirable facility for the people.
Future capital projects are constantly being scoped and considered (subject to affordability). The following projects are in the pipeline for the next 12 months:
- Installation of more solar panels on the roof
- Upgrade to Rugby Pavilion lighting
• Wetside boiler upgrades and intelligent communications with the Building Management System (BMS).
Several of these projects will be costly, therefore grants or other financing methods will need to be sourced.
## **Structure, governance and management**
## _**Nature of governing document**_
Bridport & West Dorset Sports Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 4th April 1975 and updated in 2018. The number of Members is limited to ten, but the Council of Management may from time to time register an increase in Members to a maximum of thirteen.
The Trust is a registered Charity with the Charity Commission.
## _**Recruitment and appointment of trustees**_
The Chairman of the Company is elected by the Trustees. One third of the elected Trustees retire in rotation at the Annual General Meeting (AGM) according to seniority.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
## _**Induction and training of trustees**_
New Trustees are given an induction and a copy of the Charity Commission handbook, Responsibilities of the Charity Trustees, to brief them on their legal obligations under Charity and company law, the content of the Memorandum and Articles of Association, the committee(s) and decision making process, the Strategic Plan, Performance Review summary, the Business Plan and recent financial performance of the Charity. During the induction, Trustees meet key senior Staff, including the Centre Manager, Finance Manager and HR Manager and other fellow Trustees.
## _**Organisational structure**_
The business of the Charity is managed and administered by the Management Committee, which meets on a monthly basis.
There are also other working groups covering: Capital Development, HR & Payroll, Energy and Environmental Issues which meet on an ad-hoc basis.
The Centre Manager is appointed by the Trust to manage the day-to-day operation of the Charity.
To facilitate effective operation, the Centre Manager has delegated authority by the Trust, for operational matters including finance, employment and sports performance-related activity.
## **Relationships with related parties**
Both Dorset Council’s management fee and Bridport Town Council’s annual grant provide essential financial assistance in support of the Trust to deliver a cost effective program of sports for local residents and visitors to West Dorset.
The Charity has close links with a diverse range of Clubs, Schools, User groups including (but not limited to):
• Bridport Barracudas Swimming Club
- Bridport Rugby Club
- Bridport Medical Centre
- The Living Tree
- Dorset Clinical Commissioning Group
- Local Primary Schools
- West Dorset Swim Club
- Stepping Out
- Bridport Squash Club
The Centre considers itself to be far more than a Leisure Centre, it considers itself a central community hub for the residents of Bridport and its surrounding villages - who not only have the opportunity to exercise, but to forge life long friendships.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
## _**Major risks and management of those risks**_
The Charity is currently susceptible to several major risks due to a number of aforementioned potential situations:
## 1. Dorset Council Management Fee
The Council has re-engaged the services of MAX associates to conduct an analysis of leisure spaces throughout the County. It has been previously indicated that Dorset Council has a desire to reduce its annual Management Fee (currently £197k).
Whilst it is believed that there is no imminent threat - it continues to remain a cause for concern. It is evident from both this and the Savill’s report that a continued Management Fee or a Capital injection is required to continue to operate the Centre as it is currently.
There is no desire from the Trust to close the pool, and this remains a worst-case scenario very much, however without either of the above - it is simply not sustainable.
## 2. Financial reserves
There is a real concern that with an ageing building, there is a need for an adequate financial reserve in case of unscheduled repairs and replacement of plant and equipment within the Centre. The Trust has no such reserves and generating them from within the Trust will take a long time.
The impact of Covid-19 has depleted the Trust’s cash reserves. Therefore, should any large-scale breakdowns occur, there is a true concern.
To give an indication of scale and using the Savill’s report has led to the conclusion that capital investment of £2 million (excluding VAT.), is needed in the coming years.
The Centre has a number of Service Level Agreements in place in order to minimise the likelihood of unforeseen equipment breakdown.
## 3. Energy Costs
There is now an imminent increase to the Centre’s electricity bill due to the main contract renewal (which was previously locked in for 3 years). This poses a concern to the Trustees and plans need to be in place to minimise cost.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **TRUSTEES' REPORT**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Bridport and West Dorset Sports Trust Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditor**
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on 23 October 2023 and signed on its behalf by:
Mr Alec Bailey Trustee
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## **BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **Opinion**
We have audited the financial statements of Bridport and West Dorset Sports Trust Ltd (the charitable company) for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
## **Other information**
The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report (incorporating the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit,or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 11), the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements and in respect of irregularities including fraud. The extent to which our procedures are capable detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the charitable company through discussions with directors and other management, and from our knowledge and experience of the leisure sector; •
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006, Charities Act 2011, data protection, employment and health and safety legislation; •
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and •
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
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## **BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
•making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
•considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions and investigated the rationale behind significant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation;
• reading the minutes of meetings of those charged with governance;
• enquiring of management as to actual and potential litigation and claims;
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware if the instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charitable company's trustees , as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Sarah Hough FCA DChA (Senior Statutory Auditor) For and on behalf of Edwards & Keeping, Statutory Auditor
Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA
15 November 2023
- 14 -
## **BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
**Expenditure on:**
Raising funds
7
Charitable activities
8
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20|**Unrestricted**
**funds**
**£**
11,076
1,080,014
40,730
135
1,131,955
(34,836)
(1,179,490)
(1,214,326)
(82,371)
(82,371)
154,007
71,636|**Restricted**
**funds**
**£**
64,112
28,800
-
-
92,912
-
(154,935)
(154,935)
(62,023)
(62,023)
933,242
871,219|**Total**
**2023**
**£**
75,188
1,108,814
40,730
135
1,224,867
(34,836)
(1,334,425)
(1,369,261)
(144,394)
(144,394)
1,087,249
942,855|**Total**
**2022**
**£**
145,528
857,424
29,160
18|
|---|---|---|---|---|
|||||1,032,130|
|||||(31,111)
(1,059,905)|
|||||(1,091,016)|
|||||(58,886)|
|||||(58,886)
1,146,135|
|||||1,087,249|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 20.
- 15 -
## **BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **(REGISTRATION NUMBER: 01218639) BALANCE SHEET AS AT 31 MARCH 2023**
|**Note**
**Fixed assets**
Tangible assets
13
**Current assets**
Stocks
14
Debtors
15
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
16
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
17
**Net assets**
**Funds of the charity:**
**Restricted funds**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
20|**2023**
**£**
1,147,897
3,701
146,737
102,244
252,682
(238,306)
14,376
1,162,273
(219,418)
942,855
871,219
71,636
942,855|**2022**
**£**
1,327,839
6,033
49,087
151,038|
|---|---|---|
|||206,158
(167,826)|
|||38,332|
|||1,366,171
(278,922)|
|||1,087,249|
|||933,242
154,007|
|||1,087,249|
The financial statements on pages 15 to 29 were approved by the trustees, and authorised for issue on 23 October 2023 and signed on their behalf by:
Mr Alec Bailey Trustee
- 16 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Note**
**Cash flows from operating activities**
Net cash expenditure
**Adjustments to cash flows from non-cash items**
Depreciation
7
Investment income
6
**Working capital adjustments**
Decrease in stocks
14
Increase in debtors
15
Increase in creditors
16
Increase/(decrease) in deferred income
16
Net cash flows from operating activities
**Cash flows from investing activities**
Interest receivable and similar income
6
Purchase of tangible fixed assets
13
Sale of tangible fixed assets
Net cash flows from investing activities
**Cash flows from financing activities**
Repayment of loans and borrowings
17
Repayment of capital element of finance leases and HP
contracts
18
Net cash flows from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March|**2023**
**£**
(144,394)
181,960
(135)
37,431
2,332
(97,650)
8,643
81,992
32,748
135
(2,018)
-
(1,883)
(21,372)
(58,287)
(79,659)
(48,794)
151,038
102,244|**2022**
**£**
(58,886)
148,733
(18)|
|---|---|---|
|||89,829
5,839
(2,639)
18,875
(3,163)|
|||108,741|
|||18
(364,196)
24,076|
|||(340,102)|
|||(48,248)
267,149|
|||218,901|
|||(12,460)
163,498|
|||151,038|
All of the cash flows are derived from continuing operations during the above two periods.
- 17 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Charity status**
The charity is limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Brewery Fields Bridport Dorset DT6 5LN
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Bridport and West Dorset Sports Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
- 18 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Deferred income**_
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
- 19 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is not provided on freehold land and buildings as the freehold property is maintained in a continual state of repair and has a residual value not materially different from the amount the property is included in the accounts.
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Freehold land and buildings|Not depreciated|
|Leasehold properties|Straight line over the life of the lease
or less|
|Fixture and fittings|12.5% straight line|
|Computer equipment|4 years straight line|
|Plant and machinery|Straight line over the life of the lease|
## **Stock**
Stock is valued at the lower of cost and net realisable value.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
- 20 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Hire purchase and finance leases**
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are capitalised in the balance sheet as tangible fixed assets and are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. Lease payments are charged to the Statement of Financial Activities and are apportioned between finance costs and the reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability
The interest element of the rental obligation is charged to the Statement of Financial Activities over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
## **Operating leases**
The annual operating lease payment is charged to the statement of financial activities on a straight line basis over the lease term.
- 21 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **3 Income from donations and legacies**
|**Unrestricted**
**funds**
**General**
**£**
Fundraising income
Fundraising income
-
Gift aid reclaimed
321
Grants, including capital grants;
Government grants
6,100
Grants from other charities
750
Coronavirus job retention
scheme grant
-
Regular giving and capital
donations
3,905
11,076
**4**
**Income from charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Subscriptions from members
509,078
Entrance fees
180
Swimming Pool
108,213
Main hall, squash and fields
51,037
Fitness room fees
34,431
Course and activities
202,654
Bridport Rugby Club Agreement
5,115
WDDC Service charges
161,515
Advertising sponsorship
945
Other income
-
Solar panel income
4,846
Rental income
2,000
1,080,014|**Restricted**
**funds**
**£**
18,099
1,568
20,445
23,000
-
1,000
64,112
**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
28,800
-
-
-
-
28,800|**Total**
**2023**
**£**
18,099
1,889
26,545
23,750
-
4,905
75,188
**Total**
**2023**
**£**
509,078
180
108,213
51,037
34,431
202,654
5,115
190,315
945
-
4,846
2,000
1,108,814|**Total**
**2022**
**£**
-
486
107,100
18,310
14,360
5,272|
|---|---|---|---|
||||145,528|
||||**Total**
**2022**
**£**
381,386
-
77,916
49,299
20,515
114,249
-
186,583
-
20,319
4,157
3,000|
||||857,424|
## **5 Income from other trading activities**
|Trading income;
Sales of goods and services|**Unrestricted**
**funds**
**General**
**£**
40,730
40,730|**Total**
**2023**
**£**
40,730
40,730|**Total**
**2022**
**£**
29,160|
|---|---|---|---|
||||29,160|
- 22 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **6 Investment income**
- Interest receivable and similar income; Interest receivable on bank deposits
|**Unrestricted**||||
|---|---|---|---|
|**funds**||||
||**Total**|**Total**||
|**General**|**2023**|**2022**||
|**£**|**£**|**£**||
|135|135||18|
- **7 Expenditure on raising funds**
## **a) Costs of trading activities**
|**Note**
Opening finished goods
Goods for resale and vending purchases
Stocktaker's fees
Shop costs - operating lease
Shop costs: wages and salaries
Closing finished goods|**Unrestricted**
**funds**
**General**
**£**
6,034
28,391
(200)
1,649
2,662
(3,700)
34,836|**Total**
**2023**
**£**
6,034
28,391
(200)
1,649
2,662
(3,700)
34,836|**Total**
**2022**
**£**
11,872
21,749
100
1,721
1,703
(6,034)|
|---|---|---|---|
||||31,111|
- 23 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **8 Expenditure on charitable activities**
|Employment costs
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Cleaning and chemicals
Printing,postage and telephone
Computer expenses
Subscriptions
Contribution to cancer rehab
Instructors fees
Uniforms
Sundry expenses
VAT Disallowed
Travel and subsistence
Advertising
The audit of the charity's annual accounts
Auditor's remuneration -non audit work
Legal and professional fees
Bank and credit card charges
Loan interest
Depreciation of long leasehold property
Depreciation of plant and machinery
Loss on disposal of fixed assets|**Activity**
**undertaken**
**directly**
£
652,331
23,940
82,553
35,079
206,269
18,515
5,785
655
443
21,253
1,265
1,640
3,699
49,031
487
5,694
5,290
2,570
24,156
8,787
3,024
116,423
65,536
-
1,334,425|**Total 2023**
£
652,331
23,940
82,553
35,079
206,269
18,515
5,785
655
443
21,253
1,265
1,640
3,699
49,031
487
5,694
5,290
2,570
24,156
8,787
3,024
116,423
65,536
-
1,334,425|**Total 2022**
£
510,147
12,871
78,956
16,209
160,090
10,527
6,274
205
2,552
19,994
945
1,271
4,397
36,857
863
5,853
4,200
2,100
15,554
6,883
6,849
116,423
32,310
7,575|
|---|---|---|---|
||||1,059,905|
£1,179,490 (2022- £944,206) of the above expenditure was attributable to unrestricted funds and £154,935 (2022 -£115,699) to restricted funds.
## **9 Net incoming/outgoing resources**
Net outgoing resources for the year include:
|Audit fees
Depreciation of fixed assets|**2023**
**£**
5,290
181,960|**2022**
**£**
4,200
148,733|
|---|---|---|
- 24 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **10 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **11 Staff costs**
The aggregate payroll costs were as follows:
|Wages and salaries
Employers NI
Staff pensions
Staff training|**2023**
£
604,823
32,353
9,618
8,199
654,993|**2022**
£
475,174
24,093
8,711
3,872|
|---|---|---|
|||511,850|
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
|charity during the year was as follows:|||
|---|---|---|
|Leisure centre
Management|**2023**
**No**
46
7
53|**2022**
**No**
38
6|
|||44|
No employee received emoluments of more than £60,000 during the year.
- 25 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **12 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **13 Tangible fixed assets**
|**13 Tangible fixed assets**||||
|---|---|---|---|
|**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022|**Land and**
**buildings**
**£**
2,225,974
-
2,225,974
1,400,518
116,424
1,516,942
709,032
825,456|**Furniture**
**and**
**equipment**
**£**
746,209
2,018
748,227
243,826
65,536
309,362
438,865
502,383|**Total**
**£**
2,972,183
2,018|
||||2,974,201|
||||1,644,344
181,960|
||||1,826,304|
||||1,147,897|
||||1,327,839|
Included within the net book value of land and buildings above is £15,000 (2022 - £15,000) in respect of freehold land and buildings and £694,032 (2022 - £810,456) in respect of leaseholds.
## **14 Stock**
|**14 Stock**|||
|---|---|---|
|Finished goods
**15 Debtors**
Trade debtors
Prepayments
Accrued income
VAT recoverable
Other debtors|**2023**
**£**
3,701
**2023**
**£**
4,811
19,050
112,075
3,595
7,206
146,737|**2022**
**£**
6,033|
|||**2022**
**£**
2,202
17,717
14,007
10,032
5,129|
|||49,087|
- 26 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **16 Creditors: amounts falling due within one year**
|Bank loans
Trade creditors
Other loans
Hire purchase and finance leases
Other creditors
Accruals
Deferred income|**2023**
**£**
10,000
26,810
11,374
58,287
12,415
20,288
99,132
238,306|**2022**
**£**
10,000
25,284
31,529
58,287
9,999
15,587
17,140|
|---|---|---|
|||167,826|
There is a legal charge held by The English Sports Council arising on 9 July 2010 on the leasehold property known as Bridport Leisure Centre.
## **17 Creditors: amounts falling due after one year**
|**17 Creditors: amounts falling due after one year**|||
|---|---|---|
|Bank loans
Other loans
Hire purchase and finance leases|**2023**
**£**
22,500
46,343
150,575
219,418|**2022**
**£**
32,500
37,560
208,862|
|||278,922|
## **18 Obligations under leases and hire purchase contracts**
The total value of future minimum lease payments was as follows:
|The total value of future minimum lease payments was as follows:|||
|---|---|---|
|Within one year
In two to five years|**2023**
**£**
58,287
150,575
208,862|**2022**
**£**
58,287
208,862|
|||267,149|
Finance leases are secured upon the assets in which they relate
## **19 Commitments**
## **Capital commitments**
The charity has operating lease commitments of £1,816 expiring in less than two years and £1,950 expiring in less than four years.
## **Pension commitments**
Commitments provided for in the accounts amounted to £1,721 (2022 - £1,362). Commitments not provided for in the accounts amounted to £Nil (2022 - £Nil). £Nil relates to pension commitments related to pensions payable to past directors (2022 - £Nil).
- 27 -
**BRIDPORT AND WEST DORSET SPORTS TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **20 Funds**
|**Balance at 1**
**April 2022**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Balance at**
**31 March**
**2023**
**£**
**Unrestricted funds**
**_General_**
Unrestricted General Fund
154,007
1,131,955
(1,214,326)
71,636
**Restricted funds**
The Real Tennis Court
Restricted Fund
46,165
-
-
46,165
Leisure Centre & Swimming
Pool Restricted Fund
886,809
69,912
(133,682)
823,039
Cancer Rehabilitation Restricted
Fund
268
23,000
(21,253)
2,015
**Total restricted funds**
933,242
92,912
(154,935)
871,219
**Total funds**
1,087,249
1,224,867
(1,369,261)
942,855
**Balance at**
**1 April**
**2021**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Transfers**
**£**
**Balance at**
**31 March**
**2022**
**£**
**Unrestricted funds**
**_General_**
Unrestricted General Fund
162,531
965,020
(975,317)
1,773
154,007
**Restricted funds**
The Real Tennis Court
Restricted Fund
46,165
-
-
-
46,165
Leisure Centre & Swimming
Pool Restricted Fund
932,920
49,800
(94,138)
(1,773)
886,809
Cancer Rehabilitation
Restricted Fund
4,519
17,310
(21,561)
-
268
**Total restricted funds**
983,604
67,110
(115,699)
(1,773)
933,242
**Total funds**
1,146,135
1,032,130
(1,091,016)
-
1,087,249|**Balance at**
**31 March**
**2023**
**£**
71,636
46,165
823,039
2,015|**Balance at**
**31 March**
**2023**
**£**
71,636
46,165
823,039
2,015|
|---|---|---|
|||871,219|
|||942,855|
|||**Balance at**
**31 March**
**2022**
**£**
154,007
46,165
886,809
268|
|||933,242|
|||1,087,249|
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**BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **21 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
540,371
-
(249,317)
(219,418)
71,636|**Restricted**
**funds**
**£**
607,526
252,682
11,011
-
871,219|**Total funds**
**£**
1,147,897
252,682
(238,306)
(219,418)
942,855|
|---|---|---|---|
## **22 Analysis of net funds**
|**At 1 April 2022**
**£**
Cash at bank and in hand
151,038
Finance leases and hire purchase contracts
(267,149)
Net funds
(116,111)|**Cash flow**
**£**
(48,793)
58,287
9,494|**At 31 March**
**2023**
**£**
102,245
(208,862)|
|---|---|---|
|||(106,617)|
## **23 Related party transactions**
During the year the charity made the following related party transactions:
In 2022 the charity purchased £421 (2022:£83) from Heavers of Bridport when one of the trustees was a director. At the balance sheet date the amount due to/from was £Nil (2022 - £Nil).
- 29 -