2021-03-31-accounts - Harlow And District Sports Trust

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for the Year Ende	d 3	1 March 2021
							31.3.21	31.3.20
					Designated
				Unrestrtcted	(I.ifccycie)	Restncted	Toml	Total
				Funds	Funds	funds	funds	funds
			Notes			6	f	8
INCOME AND ENDOWiiEVTS
FROM
External Contributians						12	12	6,945
Charitable activities			4
I.cisttre Acttvittes				2,002,977			2,002,977	4,396,293
Investment income			3	5,298	~22 049		27,348	45,096
Total				2,008 275	22,049		2,030,337	4,448,334
FXPENDITURE	ON
Charitable acnvities			5
l.eisure Activities				2,276,411	56,239		2,332,650	3,597,342
I/F.T
11VCOME/(EXPEiVDITURE)				(268,136)	(34,190)	13	(302,313)	850,992
Other recognised	gains/(losses)
Actuarial gains/(losses) benefit schemes		an defined		146,000			146,000	~(90000)
Net movement in	funds			(122,136)	(34,190)	13	(156,313)	660,992
RECONCILIATION		OF FUVDS
Total funds brought		forward		4,954,000	4,755,969	64,416	9,774,385	9 113393
TOTAL FUNDS	CARRIED
FORWARD				4,831,864	4,721,779	64,429	9,618,072	9,774,385

BALANCE SHEET 31.March 2021
					31.3.21	31.3.20
			Designated
		Unrestricted	(Lifecycle)	Restricted	Total	Total
		fbndh	Funcle	funds	funds	funds
	Votes	f.		6
FIXEDASSETS
Tangible assets		4,345,592			4,345,592	4,337,992
CURRENT ASSET'S
Stocks Debtors	12 13	1,054 159,924			1,054 159,924	826 57,212
Cash at bank snd m hand		1,676,408	4,738 831	64,429	di,479,668	6,859,528
		1,837,3S6	4,738,831	64,429	6,640,646	6,917,566
CRKDITORS
Amounts fallmg due within one year	14	(829,114)	(17,052)		(846,166)	(813,173)
NET CURRENf ASSETS		I 00S,272	4,72i,779	64,429	5 794,480	6 104393
TOTAL ASSETSI.KS8
CL'RRENT LIABILITIES		5,353.864	4,721,779	64,429	10,140,072	10,442,385
PENSION LIABILITY	16	(522 000)			(522,000)	(668,000)
NET ASSETS		4,831,864	4 721,779	64,429	9,618,072	9,774,385
IiUNDS	15
Unrestncted funds					9,553,643	9.709,969
Restricted funds					64,429	64,416
TOTAL FUVDS

for the Year Ended 31Ma	rch 2021
				31.3.21	31.320
			Notes
Cash flows froin operadng activities Cash generated fram oPetations				~399,608)	~575 090
Net cash (used in)/provided	by operating	activities		~399,6081	~575 090
Cash Rows from investing	activities
Purchase oftangible fixed assets				(7,600)	(345,903)
interest reccivcd				27,348	45,096
Net cash provided by/(used	in) im eating activities			19,748	~300,807)
Change in cash and cash	equivalents	in the
reporting period				(379.860)	274,283
Cash and cash equivalents	at the beginning		of
the reporting period				6,859,528	6,585,245
Cash and cash equivalents	at the end	ofthe
reporting period				6,479,668	6,859,528

ACTIVITIES
				31 321	31 3.20
				6
Net (expenditure)/income		for the reporting	period (as per the Statement of
Financial Activities)				(302,313)	850,992
Adjustments for:
interest received				(27,348)	(45,096)
Increase in stocks				(228)
(Increase)/decresse Increase/(decrease)	in debtors in cmdltcrs			(102,712) 32,993	40,447 (271,253)
Net cash (used in)/proxdded		bf opera(ionx		~399,608)	575,090

ANALYSIS OF CHANGES IN NKT FUNDS
	At 1.4.20	Cash flow	At 31.3.21
		f.
Net cash
Cash at bank and in hend	~6,859 528	379,860	~6,479 668
	6,859,528	379 860	6,479,668
Total	6,859,528	379,860	~6479,668

						313.2'1	31.3.20
Stadium	lifecycle contribution					12	~6945
INVESTMENT			INCOME
						31.3.21	31.3,20
							6
Deposit	account		interest			27,348	45,096
INCOME FROM CHARITABLE ACTIVITIES
						31 3.21	31.3.20
					Activity
income	from Activities				I.eisure Activities	992,624	3,922,694
General	Income				Leisure Acdvities	13,318	92,894
Gran(s					Leisure Acbvi(ies	609,203
Rental incornc		Crom tenants			Leisure Activities	350,305	339,596
Studio, Service		charge k		misc	I.eisurc Activities	37,527	41,109
						~2002,977	~4396293
Grants t	ecclved,		included	in thc	abave, are as follows:	31.3.21	31.3.20
Furlough	grant	received				609,203

					Support
				Ibirect	costs(see
				Costs f	noie 6]	Totals
	Leisure	Activities		845.938	1,486,712	2 332,650
6.	SUPPORT COSTS
					Governance
				Managemenr. 6	costs	Totals f
	Leisure	Activities		~1459,643	27,069	~1,486 712
7.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)		is stated aher charging/(cieditingj:
					313.21	31 3.20
	Auditom'	remuneration			9,209	9,182

STAFF COSTS
						31.3.21	31.3.20
Wages and salaries						1,272,455	1,513,847
Social sccunty costs						57,476	70,909
Other pension costs						99,856	97,637
						1,429,787	~1682393
The average monthly	number ofemployees		during	the year was	as follows.
						31.3.21	31.3.20
iVI snag em en( and admi	metre	iron				10	10
Maintenance and grounds						2	2
Customer service and	other	staff				34	35
						46
The number ofemployees		ivhose employee	benefits	(excluding	employer	pension costsi exceeded 660,000	was:
						31.3.21	31.3.20
f80,001 - 690,000						1	I

COMPARATIVES F	OR TRE STA'I'f MENT OF I	IPIANCIAL ACT	IVITIES
			Designai. ed
			(Lifecyclc)	Restricted	Total
			Fiiiids	funds	funds
				f.
LVCOME AND EVDOWMENTS FROM
External Ciintribu(iona				6,945	6,945
Charitable activities
Leisure Activities		4,396,293			4,396,293
Iniestmcnt income		~)1745	33,35)		~45 096
Total		4,408,038	33,35)	6,945	4,448,334
EXPENDITURE ON
Charitable activities
Leisure Activities		3,597,342			3,597,342
NET INCOhfE		810,696	33,35i	6,945	850,992
Transfers between funds		~489,)67)	489,167
Other recegnised gains/(losses) Actuarial gains/i)oases) on defined benefit scbetnes		(190,000)			(190,000)
~et movement in funds		131,529	522,518	6,945	660,992
RECOIVCILIATIONi	OF FUNDS
'fotal funds brought	forward	4,822,47i	4,233,451	57,471	9,113,393
TOTAL FU)VDS CARRIED IiORWARD		4,954,000	4,755,969	64,416	9,774,385
TANGIBLE FIXED	ASSETS				I.ong
					leasehold
CO,IT At I April 2020 Additions					4,337,992 7,600
At 3l March 2021					4,345,592
NET BOOK VALUE
At 31March 2021					4,345,592
At 31 March 2020					~4,337992

		f
initial valuation		2,500,000
Cm park		1,045,920
Trampoline	park	799,672
Total cost		4,345,592

STOCKS
				31.3.21	31.3.20
				I	I
:vliscellaneous				1,054	826
DEBTORS:AMOUNTS FALLING DUF. WITHIN ONK YEAR
				31.3.21	31.3.20
					I
Trade debtors				28,241	4,221
Other debtors				131,555	52,991
VAT				128
				~159924	57,212
CREDITORS: AVIOUNTS		FALLIVG DUE WITHIN ONE YEAR
				3l.3 21	31.320
Trade creditors				256,231	337,107
Social security	end other mxcs			14,381	39,306
VAT					3,243
Other creditors				565,073	420,138
Accruals and deferred income				10,481	13,379
				846,166	813,173
MOVEMENT'	IN FUVDS
				Net
				movemeni	At
			At 1.4.20 I	in funds f	31.3,21
Unrestricted funds
General fund			5,622,000	(268,136)	5,353,864
Dcfincd bcncfii pension scheme			(668,000)	146,000	(522,000)
Designated (Lifecycle) Fund		—Maintenance	3,569,653	(43,482)	3,526,171
Designated (Lifecycle) Fund		—Equipment	~1186,316	9,292	1,195,608
			9,709,969	(156,326)	9,553,643
Restricted funds
Harlow Tous Football Club			64,416	13	64,429
TOTAL FUNDS			9,774,385	~156,313)	9,618,072

Net movement in funds,	inclu	de	d in th	e above	are ss follows:
					Incoming	Resources	Gaim and	Movement
					iesourccs	expended	lasses	in funds
						6
Unrestricted funds
General fund					2,0011,275	(2,276,411)		(268,136)
Detined benefit pension	scheme						146,000	146,000
Designated Ibifecycle) Designated (Lifecyctc)	I'und I'und	- Maintenance - Equipment			12,757 9,292	(56,239)		(43,482) 9,292
					2,030,324	(2,332,650)	146,000	(156,326)
Restricted funds
Hei low Town Football	Club				13			13
TOTAL FUIVDS					2,030,337	~2,332,650)	146,000	~156,313)
Comparatives for movement			in funds
						Net	Transfers
						movemcni	between	At
					At 1.4.19	in funds	funds	31.3.20
							E
Unrestricted funds
General fund					5,300,471	1110,696	(489,167)	5,622,000
Defined benefit pension Designated (Lifecycle) Designated (Lifecycle)	scheme I'und -Maintenanoe Fund - Equipment				(478,000) 3,158,921 1,074,530	(190,000) 21,565 «ll 786	389,167 «100000	(668,000) 3,569,653 ~II86,316
					9,055,922	654,047		9,709,969
Restricted funds Hailaw Town Football	Club				57,47l.	6,945		64,416
TOTAL FUNDS					9,113,393	660,992		9,774,385
Comparative net moveinent		in	fundb	included	in the above are sk follows;
					Incoming	Resources	Gains and	Movement
					resources	expended f	lasses	in funds
Unrestricted funds
General fund					4,408,038	(3,597,342)		810,696
Defi~ed benefit pension Designated (Lifccycle) Designated (Lifccycle)	scheme Fund —lvlamtenancc Fund - Equipment				21,565 Il,786		(190,000)	(190,000) 21,565 11,786
					4,441,389	(3,597,342)	(190,000)	654,047
Restricted funds
Harlow Town Football	Club				6,945			6,945
TOTAL FUIVDS					4,448,334	~3,597,342)	~190000)	660,992

					Nct		Transfers
					movemenl		between	At
			At I 4.19		in funds		funrls	31.3 21
Unresbicted funds
General Fund			5,300,471		542,560		(489,167)	5,353,864
Defined benefit pensian	scheme		(478,000)		(44,000)			(522,000)
Designated (Lifecycle) Fund		- Maintenance	3,158,921		(21,917)		389,167	3,52(),171
Designated (Lifecycle) Fund		—Equipment	1,074,530		21.078		100,000	1,195,608
			9,055,922		497,721			9,553,643
Restricted funds
Harlosv Town Faatball Club			57,471		6,958			64,429
TOTAL FUNDS			9,113,393		504,679			9618072
A current year 12 months	and	prior year 12 months	combined net movemcnt		in fund~,	included	in the above are as follnws;
			Incoming		Resources		Gains and	Movement
			resources		expended		lasses	m funds
Unrestricted funds
General fund			6,416,313	(5,873,753)				542,560
Defined benefit pension	scheme						(44,000)	(44,000)
Designated (Lifecycle) Fund		- lvlainienance	34,322		(56,239)			(21,917)
Designated (Lifecycle) I'und		- Equipmcnt	21,078					21,078
			6,471,713	(5,929,992)			(44,000)	497,721
Restricted funds
Hei losv Town Football Club			6,958					(i,958
TOTAL FUVDS			6,478,671	~5,929,992)		~44000)		504,679

EMPLOYEE	BENEFIT Ogi.IOAT IOVS -	continued
		2021		2020
		6000's		8000's
Reconciliation	offair value scheme
A~~et~ at start	ofpened		4,754		5,040
Interest in assets			111		118
Oetum on assets less mterest			1,245		(376)
Other actun ial gains((losses)					39
Administration	expenses		(3)		(2)
Contnbutiom	by einployer		86		81
Contributions	by I'und participants		17		'I 8
Fstimated benefits paid			(146)		('I64)
Assets at end	ofperiod		6,064		4,754

Assets at end	Assets at end	ofperiod	ofperiod		6,064	4,7	54
The actuanat		valuation can ied out by		Barnctt Waddmgham,	used the	tol lowing mater	axumptions:
				2021		2020
				%p.a.		%,p,a.
Financial	Assumptions
RPI Increases					335%	2.80%
CPI Increases					2.90%	1.95%
Salary Increases					3.90%	2 95%
Pension Increases					2.90%	I 95%
Discount	Rate				I 95%	2 35%
						2021	2020
Life Assumptions			-I,ife evpectancy	from age 65
Retiring,	today
					Males	21.6	21.8
				I'emales		23.6	23.7
Retinng	in 20 years
					Males	229	23.2
				females		25.1	25.2