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 2024 Chartered Accountants
BRIDPORT AND WEST DORSET SPORTS TRUST LTD CONTENTS Reference and Administrative Details Trustees, Report 2109 Independent Auditors, Report 10t012 Slalemenl of Financial Activities 13 Balance Sheet 14 ststement of Cash Flows 15 Notes to the Financial Statements 161028
BRIDPORT AND WEST DORSET SPORTS TRUST LTD REFERENCE AND ADMINISTRATIVE DETAILS Charity Registration Number 267781 Company Rogistration Number 01218639 Principal Office Brewery Fields Bridport Dorset DT6 5LN Trustee$ Mr Alec Bailey, Treasurer Mr Malcolm Heaver, Chairman Mr Nicholas Thornley Mr Frederick Fowler Ms Zoe Miles (resigned 10 October 20231 Mr Philip Summerton Ms Deborah Fox Ms Caroline Saunders Mr David Morley (resigned 27 April 20231 Mr Nicholas Johnson Mr Jason Vaughan lappoinled 23 September 20241 Solicitors Portèr Dodson 21 South Street Bridport Dorset DT6 3NR Auditor Edwards & Keeping Unity Chambers 34 High East Street Dorchesler Dorsel DT1 1HA
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 2024. The financial statements have been prepared in accordance with the accounting policies set out in notes lo the accounts and comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities." Slalemenl of Recommended Practice lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Oblectlves and activities Objects and aims The Charity's objects are.. To provide, or assist in the provision of, facilities for the benefit of the inhabilanls of West Dorset 8nd the surrounding area for recreation or other leisure lime 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, andlor To promote community participation in healthy recreational aclivilies., andlor To carry out such other charitable objects consislenl 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 Isl or 1$ ¢onducive or incidental lo 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 looal community to participate In recreational activities and promote mental and physical health., To raise funds. In doing $0, the Charity musl not undertake any tsxable permanent trading activity and musl comply with any relevant statutory regulations., To buy, lake on lease or in exchange, hire or otherwise acquire any property and lo maintain and equip it for use.. To constiucl, maintain and aller any buildings, erections or works for the furtherance of the Objecllsl of the Charity., To sell. lease or olhetwise dispose of all or any part of the propety belonging to the Charity. In exercising this power, the Charity must comply, as appropriate. with Sections 117 and 122 of the Charities Act 2011., To borrow money and to charge the whole or any part of the propety belonging to the Charity as security for repayment of the money borrowed or as security for a grant or the discharge of an obligation. The Charity musl comply, as appropriate, with Section$ 124-126 of the Charities Act 2011 if it wishes lo mortgage land.,
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 charitablè trusts, associations or institutions formed for any of the charitable purposes included in the Objeel$'. To acquire, merge with or lo enter into any partnership or joint venture arrangement with any other Charity., To sel aside income as a reserve against future expenditure bul only in accordance with a written policy about reserves., To employ and remunerate such staff as are necessary for carrying out the work of the Charity, The Charity may employ or remunerate a Trustee only to the extent it is permitted lo do so by Article 6 and provided il complies with the conditions in that Article., To".
Deposit or invest funds,. Employ a professional fund manager,. and Arrange for the investments or other property of the Charity lo be held in the name of the investment manager or equivalent., In the same manner and subject lo the same conditions as the Trustees of a trust are permillèd to do by the Trustee Act 2000. To provide indemnity insurance for the Trustees, in accordance with, and subject lo, the conditions in Section 189 of the Charities Act 2011. To pay out of the funds of the Charity the costs of forming and registering the Charity both as company anol as a Charity. The Charity aims to provide the inhabilanls and visitors of West Dorset with an accessible, affordable and community focused facility offering a diverse range of exciting and up-to-dale activities. Public benefit The Iruslees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regarol to the public benefit guidance published by the Charity Commission for England and Wale$. Achlevements and performance The Iruslees forecast that expenditure would once again significantly increase due lo the escalating operating costs associated with operating a Leisure Centre. To balance these increased operating costs, the trustees have budgeted an increase in income lo offset the rising expenditure. Income has increased by £293,385 in this financial year, £1,429,463 in 2023124 compared lo £1,136,078 in 2022123. The increased revenue Can be allribuled lo Memberships, which has increased by £208,797. Courses & Activities, which has increased by £55.957 and the Swimming Pool, which has increased by £30,315 compared lo 2022123. The Centre reports an increase of 9.682 in footfall, with 142,999 visits recorded in 2023124 compared 10 133,317 in 2022123.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD TRUSTEES, REPORT Headline usage ststistics that support the figures above are". Swimming Pool visits linc.Classes & Swim School) +2,922 2023124 - 53,863.. 2022123 = 50,941 Group Exercise classes +6.624 2023124 - 39,598.. 2022123 = 32,974 Fitness Suite visits decreased by -2.874 2023124 - 32,490.. 2022123 = 35,364 Overall, the Cenlre's usage continues lo rise, and il is hoped that over the next 12 months - statistics will continue to rise in line with forecast financial increases. Over the next 12 months, the Centre will continue lo monitor industry trends and look to implement new and exciting initiatives. This will in turn continue lo offer a diverse schedule of activities that will increase the over811 Centre foottall. Centre Membership continues to grow in line with projections. In March 2024, the Company closed with 1,683 paying members (excluding Pay as you gol compared to 1,554 in March 2023 an increase of 129. The Centre continues lo review ils membership offer in order to meet the demands of ils users. Children's activities members closed on 827, an increase of 191. This increase can largely be allribuled lo the growth of Bridport Swim School, and it is hoped that this figure continues 10 9row over the next 12 months. Following the renewal of the Centre's main eleetrieity contract in October, there has been an expected increase lo the Centre's utility bills. Following the advice of its trusted energy broker, the Centre has not locked into a long-lerm contract and continues to review the market monthly. Should the market stsbilise. a new strategy will be adopted. To minimise the effect of the increased energy costs, the Centre has implemented the following energy saving measures.. Installed an additional 189 solar panels on the main and pavilion roof. The pavilion array directly feeds the pavilion energy consumption. Continued lo upgrade to LED throughout the Centre inc. the Dryside Corridor In the next 12 months, the following energy saving project$ are scheduled lo take plaee." 1. Refurbishment of the Welside Boilers, 2. Upgrade of the Dryside Changing room lighting to LED, 3. Upgrade of the Pavilion main room lighting lo LED, 4. Upgrade external floodlights to LED. The refurbishment of the welside boilers will be costly, therefore grants or other fi'nancing methods will be researched. Actual income against budget was over by 12.40/0. with memberships performing strongly. Expenditure was 100kn over budget, with the overspend attributed to the continued increased running costs. A satisfied customer and positive experiences remain key in the succes5 of the Leisure Centre against its objectives, as members continue to engage with the Centre and recommend us to friends. family and associates. A diverse and driven workforce with 8 particular focus on customer service is something that sets the Leisure Centre apart from its competitors. It is forecast that the energy market will continue lo rise, and alongside rises to the living wage- will require Centre Management to closely control expenditure against income. A commilled and dedicated team of Staff and Trustees. continue to provide an a11-acssIble facility for the people of Bridport and ils surrounding areas.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD TRUSTEES, REPORT It remains synonymous within the charity, that st8ff are encouraged to upskill and elevate themselves within the Cenlre'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 inleinal promotion is not always possible. In terms of continued improvement, the Centre and ils Staff remain commilled lo improve the customer experience - something that is very much our unique selling point. Capital Development In the last 12 months, the Trust has undertaken the following eapilal projects.. 1. Front Auto Door - the old auto door failed and was unable lo be automatically opened Iclosed. Therefore, a replacement door was sourced. The Centre Manager obtained a 50¢A contribution from C.G Fry & Sons for the work. 2. Dryside Plant Replacement - the gas fired Hamworthy cylinder in the dryside plant room failed and several of the pipes developed pinhole leaks. Therefore. a refil of a more efficient system look place. 3. CCTV Upgrade - The existing CCTV was no longer fil for purpose due to the age of the equipment and the modernisation of technology. Several changes have also been made lo the layout of the building since initial installation so several key areas werè not covered. A payment plan was aged with the installers lo spread the cost of the project. Financial review As predicted, income significantly increased in comparison to the previous year and also against budget 1+12.4'/ol. In hand with this increase, the expenditure also increased in comparison lo the previous year and against budgel1+100/01. The increase to income against budgeted amounts can be attributed lo the following.. Memberships,. +£96.682.73 against budget Swimming Pool,. +£16,656.14 against budget Alongside the increase lo income, expenditure has also increased against budget. This can be allributed to the following.. staff- Wages & Salaries,. +£29,136.54 against budget Light & Heal,. +£11,069.13 against budget Service Agreements., +£16,988.40 against budget With expected increases to the operating costs over the next 12 months, il is essential that the Senior Management ¢onlinue lo drive income to exceed budget whilst controlling the expenditure. The greatest opportunity for the Centre to significantly increase its income is to grow membership numbers and yield, alongside the children's activities numbers. Over the next 12 months. it is hoped that the membership base will row lo 1,738 with a yield of £33.50.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD TRUSTEES. REPORT B&WDST continues lo receive a management fee from Dorset Council for the services that it provides as part of WDDC 1992 agreement and remains appreciative of their support. The Charity continues to recogni$e that.. The dryside element of the Charity's operation, cross -subsidises (to an exlenll the swimming pool especially al a time when utility costs are rising. Without a management fee or extensive capital investment lo Create further opportunities for increased revenue, the Charity will not be able lo sustain ils operation as il currently stands. The ongoing collaboration beeen the Trust and Dorset Council enables the Leisure Centre lo continue to deliver accessible sporting, health and wellbeing activities lo Bridport and its surrounding areas on the Councils behalf. Thank You's, in addition to Dorsel Council. the Trust would like to extend their thanks lo the following- 1. Bridport Town Council for continuing to provide a grant to the Trust 2. The Palmer family for their continued generosity over the last 47 years. Following the transfer of weekend operations of the Rugby pavilion lo the Rugby club, this continues to be a mutually beneficial arrangement for all. Policy on rgsgrvès The Centre is unique in Comparison to other local authority siles who receive management fees, as (( owns the building and assets and therefore is directly accountable for all repairs. The Charity continues lo 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 objgctiTves Under the Memorandum and Articles of Association, the Charity has the power lo invest in any way the Trustees wish. The Trustees. having regard to the liquidity requirements of operating the Sports Trust anc5 to the reserves policy. keep any available funds in an interest bearing deposit account. Plans for future periods Aims and key obj9Ctivgs 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 compelilors. The Trust now has a much clearer strategic view of the business direction and 1$ now focusing on being more Pfoactive than reactive. There continue$ lo remain a going concern against the ageing fabric of the building, and il is the Trust's goal lo obtain finance lo carry out larger works through streams such as.. the management fee, capital injection, reserve funds, grant applications and potential S108 monies.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD TRUSTEES. REPORT A core objective of the Trust and Centre is.. To provide or assist in the provision of f8cilities for the benefit ol the inhabitants of Bridporl and the surrounding area for recreation or othèr leisure lime occupation of individuals in the interests of mental and physic81 wellbeing.. Therefore, eonlinued 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 ol facility provision since ils inception in 1975. 11 is a goal of the Trust to continue thi5 objective and continue lo develop a desirable facility for ils users and potential new members. As part of its improved strategic direction, there is now clearer capital projects in the pipeline. Over the next 12 months, the following is scheduled lo take place.. 1. Refurbishment of the Wetside Boilers, 2. Upgrade of the Dryside Changing room lighting lo LED, 3. Upgrade of the Pavilion main room lighting lo LED, 4. Upgrade external floodlight lo LED. Structure, governance and management Nature of governing document Bridport & Wesl 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 lo ten, but the Council of Management may from lime lo time register an increase in Membèrs to a maximum of thirteen. The Trust Is a registered Charity with the Charity Commission. Rg¢ruitment 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 IAGMI according to seniority. Induction and training of trustees New Trustees are given an induction and a copy of the Charity Commission handbook, Responsibilities of the Charity Trustees, lo brief them on their legal obligations under Charity and company law, the conlenl of the Memorandum and Articles of Association, the committeelsl 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. Organisatlonal structure The business of the Charity is managed and administered by the Management Committee, which meets on a monthly basi$. There are also other working groups covering.. Business Strategy. HR & Payroll. Energy and Environmental Issues which meet on an ad-hoc basis. The Centre Manager is appointed by the Trust lo manage the day-to-day operation of the Charity. To facilitate effective operation, the Centre Manager has delegated authority by the Trust, for operational mallers including finance, employment and sports performance-relaled activity.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD TRUSTEES, REPORT Relationships with related parties Both Dorsel Council's management fee and Bridport Town Council's annual grant provide essential financial assistance in support of the Trust lo deliver a cost effective program of sports lor local residents and visitors lo Wesl Dorsel. The Charity has close links with a diverse range of Clubs, Schools. User groups including (but not limited tol., Bridport Barracudas Swimming Club Bridport Rugby Club Bridport Squash Club Stepping Outtrhe Living Tree Dorsel Clinical Commissioning GrouplNHSIAmmonite Health Partnership Local Primary Schools . Wesl Dorset Swim Club Stepping Out Active Dorseu Live Vvell Dorset The Centre considers itself to be far more than a Leisure Cenlre, il considers itself a central community hub for the residents of Bridport and its surrounding villages who not only have the opportunity lo exercise, bul lo forge life long friendships. Major risks and management of those rlsks The Charity is currently susceptible lo several major risks due lo a number of aforementioned potential situations.. Dorset Council Management F99 The Council has engaged the service of MAX associates lo conduct an analysis of leisure spaces throughout the County. It has been previously indicated that Dorset Council has a desire to reduce ils annual Management Fee IcurrenUy £197kl. Whilst it is believed that there is no imminent threat - il continues to remain a cause for concern. 11 is evident from both this and the Savill's report that a continued Management Fee or a Capital injection is required lo continue lo operate the Centre as il is currently. There is no desire from the Trust lo close the pool, and this remains a worsl-case scenario very much, however without either ol the above - it is simply not sustainable. Financial Resetves There is a real concern that with an ageing building, there is a need for an adequate finaneial reserve in case of unseheduled repairs and replacement of plant and equipment within the Cenlre. While the Trust has now entered its recovery phase, il does not havè sufficient reserves to handle any large-scale breakdowns. To give an indication ol scale and using the Savill's report has led lo the conclusion that capital investment of £2 million (excluding VATI, is needed for the coming years. The Centre has several Service Level Agreements in place to minimise the likelihood of unforeseen equipment breakdown. Energy Costs The increased energy costs have been well publicised throughout this report. 11 is important that over the next 12 months, and months following the Centre Management al control expenditure within this overhead and bl continue lo investigate energy efficient schemes that will rèduce energy consumption.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD TRUSTEES. REPORT Statement of Trustees. Responslbllltles The trustees Iwho are also the directors of Bridport and Wesl Dorsel Sports Trust Ltd for the purposes of company lawl are responsible for preparing the IrLJStees' report and the financial slalemenls in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees lo prepare financial statements for each financial year. Under company law the Iruslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of ils incoming resources and application ol resources, including ils income and expenditure, for that period. In preparing these financial slalemenls. the trustees are required lo.. 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 prudènt.. stste whether applicable UK Accounting Stsndards 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 8ny lime thè financial position of the charitable company and enable them lo 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 Iruslee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and lo estsblish that the charity's auditor is aware of that information. The Iruslees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. Small companies provision statement This report has been prepared in accordance with the small Companies regime under the Companies Act 2006. The annual report was approved by the Iruslees of the charity on *. .i.i_.L4 behalf by.. and signed on ils Mr Alec Bailey Trustee
BRIDPORT AND WEST DORSET SPORTS TRUST LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRIDPORT AND WEST DORSET SPORTS TRUST LTD Opinion Wè have audited the financial slalemenls of Bridport and Wesl Dorsel Sports Trust Ltd Ilhe charitable company) for the year ended 31 March 2024, which comprise the Slalemenl of Financial Activities, Balance Sheet, Slalemenl of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financi21 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 Republie of Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charitable company's affairs as al 31 March 2024 and of its incoming resources and application of resources, including ils income and expenditure. for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitiès under those standards are further described in the Auditor'5 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 lo our audit of the financial slalemenls 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 lo provide a basis for our opinion. Concluslons relatlng to going concorn In auditing the financial sl8temenls, we have concluded that the Iruslees, use of going concern basis of accounting in the preparation of the financial stslemenls is appropriate. Based on the work we have performed, we have not identified any materi81 uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability lo continue as a going conrn for a period ol al least twelve months from when the financial statements are aulhorised for issue. Other informatlon The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor's report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial slalemenls does not cover the other information and, except to the exlenl otherwise explicitly staled 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, con$ider 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 misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise lo a material misstatement in the financial slalements themselves. If. based on the work we have performed. we conclude that there is a material misstalemenl of this other information, we are required lo 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 informats'on given in the Trustees. Report (incorporating the directors, reportl for the financial year for which the financial slalements are prepared is consislenl with the financial ststemenls.. and the Trustees, Report has been prepared in accordan¢e with applicable legal requirements. 10-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRIDPORT AND WEST DORSET SPORTS TRUST LTD We assèssed the susceptibility of the charitable company's financial statements lo material misslatemenl, including obtaining an understanding of how fraud might occur, by.. 'making enquiries of management as lo where they considered there was susceptibility lo fraud, their knowledge of actU81, suspected and alleged fraud", •considering the internal controls in place lo miligale risks of fraud and non-complian with laws and regulations., and To address the risk of fraud through management bias and override of controls, we.. performed analytical protsdures to identify any unusual or unexpected relationships., lesled journal entries to identify unusual transactions and investigated the rationale behind significant or unusual Iran5aclions In response lo the risk of irregularities and non4ompli8nce with laws and regulations, we designed procedures which included, bul were not limited lo.. agreeing financial 51alemenl di$closure5 to underlying supporting documenlalion., 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 delect all irregularities, including those leading lo 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 st8lements, as we will be less likely lo become aware if the instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error. as fraud involves intentional ooncealmenl, forgery collusion, omission or misrepresenlalion. A further description of our responsibilities for the audit of the fi'nancial slalemenls is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibililies. This description forms part of our auditorfs report. We communicate with those charged with governance regarding, among other matters, the planned scope and liming 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 lo 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 stale lo the charitable company's members those mallers we are required to slate lo 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 lo 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. gh FCA DChA Isenior Stalulory Auditor) For and on behalf of Edwards & Keeping, Slalulory Auditor Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA 12-
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 requlred to report by exception In the light of our knowledge and understanding of the company and ils environment obtained in the course ol the audit, we have not identified material misstalemenls in the Trustèes. Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report lo you if, in our opinion". adèquate 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 slalements 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 audil,or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and tske 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 Iset out on page 91, the Iruslees (who are also directors of the charitable eompany for the purposes of company lawl 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 slalements that are free from material misslalement. whether due to fraud or error. In preparing the financial slatemenls, 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 5iquidale the charitable company or lo cease operations, or have no realistic alternative bul to do so. Auditor's respon$ibilities for the audit of th9 financial statements Our objectives are lo obtsin reasonable assurance about whether the financial ststemenls as a whole are free from material misslalemenl, whether due to fraud or error, and lo 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 cgnducted in accordance with ISAS IUKI will always detect a material misslalemenl when il 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 slalements. Irregularities, including fraud, are instsnces of non<ompliance with laws and regulations. We design procedures in line with our responsibilities, ouuined above, to delecl material misslatemenls and in respect of irregularities including fraud. The exlenl lo which our procedures are ¢apable delecling 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 exlenl ol 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 lo instances of non-compliance throughout the audit.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 {INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) (As restatodl Total 2023 Unrgstrictod funds Rgstrictod funds Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 13,098 1,305,450 42.124 5.051 34,940 28,800 48,038 1.334,250 42.124 5,051 75,188 1,020,025 40,730 135 Total incomè 1,365,723 63,740 1,429,463 1,136,078 Expenditure on: Raising funds Charitable activities 130.9821 1,296,802 130.9821 1,425.063 134,8361 1,334,425 128,261 Total expenditure 1,327.784 128,261 1,456,045 1,369,261 Nel incomellexpenditurel Nel movement in funds 37,939 64,521 26,582 233,183 37,939 164,5211 126,5821 1233,1831 Reconciliation of funds Total funds brought fotward 17,153 871,219 854,066 1,087,249 Total funds carried forward 20 20,788 806,698 827,484 854,066 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shown in note 20.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD (REGISTRATION NUMBER: 01218639) BALANCE SHEET AS AT 31 MARCH 2024 (As restated) 2023 2024 Note Flxed assets Tangible assets 13 983,872 1,147,897 Current assets Stocks Debtors Cash at bank and in hand 14 15 4,609 55,629 114,194 174.432 3.701 54.460 102,244 160,405 Creditors: Amounts falling due within one year Net current liabilities 16 186,206 234,818 11,774 74,413 Total assets less current liabilities 972,098 1,073,484 Crgditors: Amounts falling due aftgr more than one year 17 144,614 219,418 Net assets 827.484 854,066 Funds of the charity: Restricted funds 806,698 871.219 Unrestricted income funds Unrestricted funds 20,786 17,153 Total funds 20 827,484 854,086 These accounts are prepared in accordance with the special provisions of Part Vll of the Companies Act 1985 relating lo small entities. The financial ststemenls on pages 13 to 28 were approved by the trusteès, and aulhorised for issue on Ltr..-.i..I,..L4.. and signed on their behalf by. Mr Alec Bailey Trustee 14.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 {As restated) 2023 2024 Note Cash flows from opgrating activities Nel cash expenditure 126,5821 {233,1831 Adjustment$ to Cash flows from non4ash items Depreciation Investment income 13 181,609 15,051 149,976 181.960 135 151,3581 Workin9 capital adjustmonts Ilncreaselldecrease in stocks Increase in debtors (Decreasellincrease in creditors (Decreasellincrease in deferred income Nel cash flows from operating activities 14 15 16 16 1908} 11 1691 121,8081 126,804 2,332 15,3731 8,644 78,503 99.287 32,748 Cash flows from Investlng activities Interest receivable and similar income Purchase of tangible fixed assets Nel cash flows from investing activities Cash flows from financing activities Repayment of loans and borrowings Rep8ymenl of capital element of finance leases and HP contracts 5,051 17,584 135 2,018 13 12,533 1,883 17 121,3741 121,372) 18 53.430 58.287 Nel cash flows from financing activities Net increaselldecreasel in cash and cash equivalents 74,804 79,659 11,950 148,7941 Cash and cash èquivalents at 1 April Cash and cash equivalents at 31 March 102,244 151,038 114.194 102,244 All of the cash flows are derived from continuing operations during the above two periods.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 Charity status The charity is limited by guarantee, Incorporated in United Kingdom, and consequently does not have share capitsl. Each of the trustees is liable lo contribute an amount not exceeding £1 towards the assets of the charity in the event ol liquidation. The address of ils registered office is.. Brewery Fields Bridport Dorset DT6 5LN 2 Accounting policios Summary of signlflcant accountlng policies and key accounting estlmates The principal accounting policies applied in the preparation of these financial slalemenls are sel out below. These policies have been ¢onsislenUy applied to all the years presented, unless otherwise slated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Char11ies.' Statement of Recommended Practice applicable lo eharities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financial RèF)Orting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charrties Act 2011. Basis of preparation Bridport and Wesl Dorsel 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 staled in the relevant accounting policy notes. Going ¢oncern The financial slalements 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 lo events or conditions that may cast significant doubl 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 ol the financial slalements. Exemptlon from preparing group accounts The financial statements contain information about Bridport and West Dorset Sports Trust Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempl under section 401 of the Companies Act 2006 from the requirement to prepare eonsolidaled financial slalemenls as it and its subsidiary undertakings are included by full consolidation in the consolidated financial Statements of its parent, a company in¢orporaled in Income and endowments All income is recognised once the charity has entillemenl lo the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Donations and legaeles Donations are recognised when the charity ha5 been notified in writing of both the amount and settlement dale. In the event that a donation is subject to conditions that require 8 level of performance by the charity before the charity is enlilled to the funds, the income is deferred and not recognised until either those conditions are fully mel, or the fulfilment of those conditions is wholly within the control of the charity and il 1$ probable that these conditions will be fulfilled in the reporting period. Grants recelvable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been mel. Where performance conditions are allached lo the grant and are yel lo be mel, the income is recognised as a liability and included on the balance sheet as deferred income lo be released. Defeed in¢om# Deferred income represents amounts received for future periods and is released lo 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 u$ed in future accounting periods", or The donor has imposed conditions which must be mel before the charity has unconditional entillemenl. Investment Income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendiiure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlernenl 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 lo 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 depreeialion Charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of stsff costs. Raislng funds These are costs inCUrd in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charitable aetlvltles Charitable expenditure comprises those c051s incurred by the charity in the delivery of its activities and services for Ils beneficiaries. 11 includes both costs that can be allocated directly to such activits'es and those costs of an 1ndirecl nature necessary lo 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 propety costs by floor areas, or per capita, staff costs by the lime spent and other costs by their usage.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 lo revenue or lo assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating lo assets are recognised over the expected useful life ol the asset. Where part ol a grant relating to an asset is deferred, il is recognised as deferred income. Taxation The charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax 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 258 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible flxed assets Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and arnortisation Depreciation is not provided on freehold land and buildings as the freehold property is maintained in a continual stale 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 lo write off the cost or valuation, less any eslimaled residual value, over their expected useful economic life as follows.. Asset class Freehold land and buildings Depreciatlon method and rate Not depreciated Straight line over the life of the lease or less 12.5Qk straight line 4 years straight line Slraighl line over the life of the lease Leasehold properties Fixture and fittings Computer equipment Plant and machinery Stock stock is valued al the lower of cost and nel 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 al the transaction price. They are subsequently measured al amortised co81 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 lo the original terms of the receivables. Cash and cash equivalent$ Cash and cash equivalènts comprise cash on hand and call deposits, and other short-lerm highly liquid Investments that are readily convertible lo a known amount of cash and are subject lo an Insignificant risk of change in value. 18
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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, al the end of the reporting period. to defer selllemenl ol the creditor for al least twelve months after the reporting dale. If there is an unconditional right lo defer selllement for al least twelve months after the reporting dale, they are presented as non-currenl Trade creditors are recognised initially al the transaction price and subsequenuy measured at amortised cost using the effective interest method. Borrowings Interesl-bearing borrowings are initially recorded al fair value, net of transaction costs. Interesl-bearing borrowings are subsequently carried al amortised c051, with the difference beeen the proceeds, net of transaelion costs, and the amount due on redemption being recognised as charge to the Slalement 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 eharity has an unconditional right lo defer settlement of the liability for at least e1ve months after the reporting dale. Fund structure Unreslricled income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Reslricled income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted lo that are8 or purpose. Hlre purchase and finance leases Leases are classified as finance leases whenever the lems of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are capitaliged in the balance sheet as tangible fixed assets and are recognised al the lowèr of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straighl-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 apportionèd beeen finance costs and the reduction of the lease obligation so as lo 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 proporbon of the balance of capital repayments outstanding. Op9rating lease$ The annual operating lease payment is charged lo the ststement of financial activities on a straight line basis ovèr the lease term.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3 Income from donations and legacies Unrestricted funds Restricted funds Total 2024 Total 2023 General Fundraising income Fundraising income Donations from individuals Legacies Gift aid reclaimed Grants, including capital grants.. Government grants Grants from other charities Rular giving and capital donations 18,099 6,000 6,000 5,561 271 5,561 271 1,889 4,000 5,200 20,000 9,200 20,000 26.545 23,750 3,268 3,740 7,006 48,038 4,905 13,098 34,940 75,188 4 Income from charitable activities Unrestrlcted funds {As restated) Total 2023 Restricted funds Total 2024 General Subscriptions from members Entrance fees Swimming Pool Main hall, squash and fields Fitness room lees Course and activities Bridport Rugby Club Agreement Dorset Council Service charges Advertising sponsorship other incorne Solar panel income Rental income 629,086 704 138,528 46.814 43,990 258.611 8,521 168,970 500 2,698 4,885 2,143 1,305,450 629,088 704 138,528 46,814 43,990 258,611 8,521 197,770 500 2,698 4,885 2,143 420,289 180 108,213 51,037 34,431 202,654 5,115 190,315 945 28,800 4,846 2,000 1,020.025 28,800 1,334,250 -20-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 S Income from other trading actlvlties Unrestricted funds Total 2024 Totsl 2023 General Trading income., Sales of goods and services 42,124 42.124 40,730 40,730 42,124 42,124 6 Investment income Unrestricted funds Total 2024 Total 2023 G¢neral Interest receivable and similar income., Interest receivable on bank deposits 5,051 5,051 135 7 Exponditure on ralslng funds a) Costs of trading aetlvitles Unrestricted funds Total 2024 Total 2023 General Note Opening finished goods Goods for resale and vending purchases Slocklaker's fees Shop costs - opèrating lease Shop costs.. wages and salaries Closing finished goods 3,701 30,182 3,701 30.182 6,034 28,391 12001 1,649 2,663 3,701 34,836 1,708 1,708 4,609 30.982 4,609 30,982 21
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 8 Expendlture on charitable activities Activity undertaken directly 2024 Total 2023 Employment costs Water rates 732,855 19,551 96,953 34,949 219.020 13,260 7,318 508 652,331 23,940 82,553 35,079 206,269 18,515 5,785 655 Light, heat and power Insurance Repairs and maintenance Cleaning and chemicals Printing,postage and telephone Compulerexpenses Subs¢riplions Contribution lo cancer rehab 377 443 19,183 3.357 2,583 3,119 47,127 362 21,253 1,265 1.640 3.699 49.031 487 Inslruclors fees Uniforms Sundry expenses VAT Disallowed Travel and subsistence Advertising The audit of the charity's annual accounts Audilorf$ remuneration -non audit work Legal and professional fees Bank and credit card charges Loan interest 6,659 5,060 2.480 13,800 12,501 2,431 116,423 65,187 5,894 5,290 2,570 24,1S6 8,787 3,024 116,423 65,536 Depreciation of long leasehold propety Depreciation of plant and machinery Loss on disposal of fixed assets 1.425,063 1,334,425 £1,296.802 12023- £1,179,490) of the above expenditure was attributable to unreslricled funds and £128,261 12023 -£154,935) to restricted funds. 9 Net incomingloutgoing resources Nel outgoing reSoUrS for the year include.. 2024 2023 Audit fees Depreciation of fixed assets 5,060 181,610 5,290 181,960 22-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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.. 2024 2023 Wages and salaries Employers Nl Staff pensions Staff training 677,890 35,596 10,650 8,719 732,855 604,823 32,353 9,618 8,199 654,993 The monthly average number of persons (including senior management team) employed by the charity during the year was as follows.. 2024 No 2023 Leisure centre Management 53 46 59 53 No employee received emoluments ol more than £60.000 during the year. 12 Taxatlon The charity is a registered charity and is therefore exempl from taxation. 23-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble fixed assets Furniture and equipment Land and buildin9S Total Cost Al 1 April 2023 Additions 2,225,974 748,227 2,974,201 17,584 17,584 At 31 March 2024 2,225,974 765,811 2.991,785 Dèpreclatlon At 1 April 2023 Charge for the year Al 31 March 2024 1,518,942 116,423 309,362 1,826,304 65,186 181,609 1,633,365 374,548 2,OQ7,913 Net book value Al 31 March 2024 592,609 391,283 983,872 Al 31 March 2023 709,032 438,865 1,147,897 Included within the nel book value of land and buildings above is £15,000 12023 - £15,0001 in re5pe¢l of freehold land and buildings and £577,609 {2023 £694,032) in respect of leaseholds. 14 Stock 2024 2023 Finished good$ 4,609 3,701 15 Debtors {As rgstatedl 2023 2024 Trade debtors Prepayments Accrued income VAT recoverable other debtors 4,686 12,435 26,669 4,918 6,921 55,629 4,811 19,050 19,798 3.595 7,206 54,460 -24-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16 Creditors- amounts falllng due wlthin one year (As restated) 2023 2024 Bank108ns Trade creditors Other loans Hire purchase and finance leases Other creditors Accruals Deferred income 10,000 8,821 11,374 58,287 12,473 16,412 68,839 186,206 10,000 26,810 11,374 58,287 12,416 20,288 95,643 234,818 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 falllng due after one year 2024 2023 Bank loan$ Other loans Hire purchase and finance leases 12.500 34,969 97.145 22.500 46,343 150.575 144,614 219,418 18 Obligations under1oa$gs and hirg purchase eontracts The total value of future minimum lease payments was as follows.. 2024 2023 Within one year In two to five years 58,287 97,145 155,432 S8,287 150,575 208.862 Finance leases are secured upon the assets in which they relate Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Land and buildings Within one year BeMeen one and five years 563 1,350 1.913 3,766 3,766 -25-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19 Commltments Pension commitments Commitments provided for in the accounts amounted lo £1,640 12023 - £1,721). Commitments not provided for in the accounts amounted lo £Nil 12Q23 - £Nill. £Nil relates lo pension commitments related to pensions payable to past direclors12023 £Nill. -26-
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20 Funds {As restated) Balanc9 at 1 April 2023 Balance at 31 March 2024 Incoming resour¢e5 Rosources expended Unrestricted funds General Unrestficled General Fund 117.1531 1,365,723 11,327,784} 20,786 Restrlcted funds The Real Tennis Court Restricted Fund Leisure Centre & Swimming Pool Reslricled Fund Cancer Rehabilitation Restricted Fund 46,165 46,165 823,039 43,740 1109,0781 757,701 2,015 20,000 19,1831 2,832 Total restricted funds 871.219 63,740 128,261 806.698 Total fund$ 854,066 1,429,463 1,456.04S 827,484 (As restated) Balance at 31 March 2023 Balance at 1 April 2022 Incoming resources Rpsources expended Unrestricted funds General Unrestricted General Fund 154,007 1,043,166 {1,214,3261 117,1531 Restrictgd funds The Real Tennis Court Restricted Fund Leisure Centre & Swimming Pool Reslrieted Fund Cancer Rehabilitation Reslri¢led Fund 46,165 46,165 886,809 69.912 1133,6821 823,039 268 23,000 21,253 2,015 Total restricted funds 933,242 92,912 154,935 871,219 Total funds 1,087,249 1,136.078 1,369.261 854,066 27.
BRIDPORT AND WEST DORSET SPORTS TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of ngt assets bgtween funds Unrestricted funds Restricted funds General Total funds Tangible fixed assets Current assets Current Iiabililies Creditors over 1 year 470,485 1118,8791 1186,2061 144,614 513,387 293,311 983,872 174,432 1186.2061 144,614 Total net assets 20,786 806,698 827,484 22 Analysis of net funds At 31 March 2024 At 1 Aprll 2023 Cash flow Cash al bank and in hand 102,244 7,343 13,7191 109,587 13,7191 Bank overdraft 102,244 1208,8621 3,624 53,430 1 OS,868 1155,4321 Finance leases and hire purchase contracts Nel funds 1106,6181 57,054 149,5641 23 Related party transactlons There were no related party transactions in the year. 24 Prior period adjustment A prior period adjustment was made of £88,789 to correct the inclusion of income which was included in 2023 accounts bul related lo 2024. -28-